Veikkaus predicts €50m loss from responsibility measures
Finnish monopoly operator Veikkaus predicts it will lose €50m ($55.5m) in 2020 revenue, due to its new commitments to corporate responsibility measures.
The operator expects its earnings to fall to around €963m, the same revenue it generated in 2014 while still operating as three seperate companies.
During 2020, the operator has vowed to introduce mandatory identification in its slot machines and other games, significantly reduce the number of distributed slot machines, estimated at approximately 3,500, and implement a new, more responsible marketing strategy.
Veikkaus also announced it will update its financial reporting methods in accordance with the International Financial Reporting Standard.
Speaking at a media conference in October, Olli Sarekoski, CEO of Veikkaus, admitted the operator had not been doing enough to reduce gambling problems, vowing to provide a more responsible gaming environment for its customers.
He said: “The proposed actions are part of Veikkaus’ new strategic plan, where responsibility plays a very important role. A safer and more responsible gaming environment will underpin everything in the future.”
Veikkaus reported a 4% drop in revenue year-on-year for the nine months to September 2019.
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