Veikkaus, Finland’s state-owned gaming and lottery powerhouse, has officially announced a significant leadership change as it prepares for the most consequential regulatory shift in its history. Regina Sippel, who has served as the company’s Chief Financial Officer and a vital member of the executive team since September 2019, has stepped down from her position.
Interim Leadership and Executive Gratitude
In the wake of her departure, Veikkaus has appointed Pessi Palomäki to serve as the interim CFO. Palomäki is a seasoned financial professional who joined the organization in December as the vice president of group reporting.
Veikkaus CEO Olli Sarekoski expressed deep appreciation for Sippel’s contributions over the past five years, particularly her resilience during periods of industry volatility.
“I would like to thank Regina for the energy and enthusiasm she has shared with us,” said Sarekoski. “Her positive attitude, even in the most challenging situations, has inspired us and helped us move forward”.
Reflecting on her tenure at the state operator, Sippel provided a graceful farewell:
“I am grateful for the trust and all we have built together. I wish Veikkaus and everyone working at the company success in the future”.
Navigating the End of an Era
This leadership transition occurs as Finland dismantles the long-standing monopoly system. Next year, Veikkaus will lose its exclusive right to offer sports betting and online casino games as the country adopts a multi-licensing model. While the operator will retain its monopoly over lottery games, physical gaming machines, and land-based casinos, it must now prepare to compete as a licensed entity in the open iGaming market.
The B2C licensing window was officially inaugurated on March 1, 2026, with international operators expected to go live by July 1, 2027. Furthermore, a strict B2B licensing regime will follow, requiring all suppliers to hold Finnish certification by 2028 to continue working with B2C licensees.
