The Deputy Chief Executive Officer of Finnish state lottery company Veikkaus Oy will vacate his role ahead of a huge market transition in 2027.
Veikkaus confirmed that Velipekka Nummikoski’s last day as Deputy CEO will be 31 August 2026, bringing an end to a 14 year career with the lottery, gambling and betting firm.
As one of Europe’s few remaining gambling monopolies, Finland gives Veikkaus exclusive rights to operate lotteries, betting and gaming in the country.
From July next year, the market for online gambling and betting will be opened up to private competitors. Veikkaus will retain exclusive rights to lotteries, and land-based gaming.
Nummikoski played a key role in the company’s development up to this point.
Veikkaus was formed in 2017 via the combination of three Finnish state gambling agencies – the previous iteration of Veikkaus, the lotteries and sports betting firm; Fintoto, which operated horse racing betting; and the Slot Machine Association (RAY), which, as its name suggests, organised land-based gaming.
Nummikoski had joined RAY in 2012, serving as its CEO. In 2017, upon the merger of the three organisations, he became Deputy CEO of the new Veikkaus, responsible for public relations, responsibility and communications, among other areas.
“I started as CEO of RAY in 2012, when digitalization began to change the gambling industry,” said Nummikoski.
“I was involved in the merger of three companies into the new Veikkaus and in the journey towards a competitive market. It has been a great privilege to work in the midst of this transformation.”
“Next year, Veikkaus will enter a new era, and at the same time it is also my turn to head towards new challenges. Warm thanks to all Veikkaus employees for the years we have spent together.”
Olli Sarekoski, Veikkaus CEO, praised his Deputy CEO’s “long and respected career’ with the company, including taking on “several demanding management positions”.
“I would like to thank him warmly for his significant work for the company,” he said.
It is now nine months until the Finnish market transitions into a more open market, leaving just Norway and Austria as some of the only mobility systems left in Europe – though the latter is moving to abolish its own as well.
Veikkaus has been highly supportive of the transition to a more open system, viewing it as essential for the Finnish state to reassert greater control over the regulated market and push back against unlicensed activity.