Veikkaus to strengthen responsible gambling strategy in 2020

Finnish gambling monopoly Veikkaus has outlined plans to strengthen its responsible gambling strategy in 2020, which will include a reduction in the number of slot machines it operates across Finland.

Having gained approval from the Veikkaus board of directors, the gambling monopoly could cut the number of slot machines by an estimated 3,500, as well as pushing for compulsory identification in order for customers to play slots and other games.

“Responsible gaming measures have been planned and will continue to be numerous in the coming year,” Veikkaus’ director of responsibility Pekka Ilmivalta said. “We will be involved in the planning of this work, for example, with those dealing with gambling problems, as well as with addiction experts.”

Other changes will also include amending the group’s marketing strategy to focus more on promoting responsible gambling, as well as changes to the way Veikkaus reports its financial results. This means that the profit that Veikkaus generates from gaming activities will be presented minus the winnings paid to players.

Its responsible gambling strategy will also play a key role in determining the performance-based bonuses for its management. In the coming twelve months, evaluating the effectiveness of operations will have a weight of 40%, measured by operating expenses as a percentage of gross margin.

Veikkaus has emphasised that if the indicator for the effectiveness of operations exceeds the indicative level for gambling harm, the 40% efficiency measure will be cut completely from the bonus.

Other criteria for bonus payments will include the number of customers, which will carry a 35% weight, and the development of staff experience at a weight of 25%.

Veikkaus has warned, however, that the change to its operating strategy could lead to a €50m decline in earnings.

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