Finland monopoly Veikkaus names new CEO
Olli Sarekoski to lead newly-merged state owned operator from next year
Finland’s newly-created state-owned monopoly giant Veikkaus has named Olli Sarekoski as its new vice president and CEO, effective from the beginning of next year.
Sports betting and lottery operator Veikkaus Oy, casino and slots operator RAY and horseracing operator Fintoto will merge under the Veikkaus brand on 1 January 2017.
Sarekoski, who is currently executive vice president and COO of Veikkaus Oy, will take the reins of the newly-created operator when the company starts trading.
“The company operates [in a] digitally competitive market and we need to make every effort to be able to respond responsibly to this competition,” said Sarekoski.
Earlier this month, the monopoly giant unveiled new branding ahead of its launch next year.
The new company will consist of around 2,000 employees and expects to create more than ?1bn a year for good causes in Finland.
The appointment follows Finland’s Ministry of the Interior decision to merge three of the country’s state-owned gambling operators in a bid to create a firm which can better safeguard Finland’s monopoly system.