Following the announcement that Finland’s merged gambling operator would officially be called Veikkaus as of January 1, 2017, FRV Evo Oy, the name under which the entity is operating temporarily, informed media that Olli Sarekoski has been appointed as the new company’s Chief Executive.
Mr. Sarekoski has substantial experience in the industry. He has been serving as Executive Vice President of Veikkaus over the past eight years. He was responsible for the Business Operations of the gambling company, which managed Finland’s lottery and betting operations prior to the merger. He had previously taken several other key roles at the operator.
His appointment was announced after the FRV Evo Oy Board spent months of deliberations and conversations with both industry and outside personalities that were considered suitable for the CEO post.
Mr. Sarekoski commented that the newly merged entity would have to establish itself among Finland’s residents from the very beginning. The executive further noted that the gambling operator would have to cope with digital competition, among other things, and that it will need to respond adequately and responsibly to this competition. Mr. Sarekoski also explained that proceeds generated from Veikkaus’ operations will be contributed to Finns’ well-being and to various related causes.
It was announced last year that Finland has decided to merge its three state-run gambling organizations into a single entity. Veikkaus, as the merged entity would be called, will officially commence operations on January 1, 2017. Among other important tasks, the newly merged operator would work for strengthening its responsible gambling system, as previously announced.
It is expected that Veikkaus would annually generate more than €1 billion in revenue that would be contributed to various initiatives related to improving the country’s residents general lifestyle and well-being. At present, FRV Evo Oy has 1.9 million Finnish gambling customers.
The gambling company’s Board is currently comprised of four members – Chairman Olli-Pekka Kallasvuo, Pekka Hurtola, Outi Henriksson, and Hanna Sievinen. Once the merger is completed, the operator would employ around 2,000 people.
Veikkaus would be the product of the merger of Finland’s three gambling companies – Raha-automaattiyhdistys or RAY, which was in charge of the casino options offered in Finland, Veikkaus Oy, the national lottery and betting operator, and Fintoto Oy, the company behind Finland’s pari-mutuel offering.
