Industry

Veikkaus To Cut Slot Machines By Fifty Percent

Veikkaus which is the state owned gambling monopoly in Finland has been on a mission to reduce problem gambling in the country.

Veikkaus is looking at different ways to address the rise of gambling addiction in Finland and one of the main ways will be in reducing the number of slot machines throughout the country.

The national betting agency which has fully monopoly over sports betting and the lottery had earlier announced that it planned on reducing slot machines from the current 18,500 to 15,500.

Finns love to gamble and slot machines tend to be the most popular form of gambling as they do not require any special skillset as slots are based completely on chance.

However, Veikkaus has now announced that it will cut an even bigger number of slot machines. The number of slot machines will now drop from 18,500 to 10,500 within the next five years. The biggest cut will take place in 2020 as Veikkaus will remove as many as 3,500 machines from supermarkets, kiosks and service stations. The remaining 4,500 slot machines will slowly be de-commissioned during the next 5 years. 

The reduction of slot machines will hurt the profits of Veikkaus but the company will have time to prepare to offset its expected losses.

In a statement, Olli Sarekoski, CEO of Veikkaus said

The pressure to maintain our financial performance has been high. The price has been that we haven’t been able to reduce gambling problems well enough and we’ve been content with them not increasing.

Veikkaus Looks To Change Public Perception

Veikkaus has come under immense criticism in recent times due to its marketing campaigns and advertisements. The general public has not been happy at how Veikkaus has gone about its business which includes placing slot machines in public places and aggressive marketing campaigns. 

The betting agency has taken this feedback seriously and has made changes to its marketing campaigns as well as its internal policies. Veikkaus has also promised to install identification technology in all of its slot machines which will be extremely useful in the fight against problem gambling.

The ID technology is expected to be installed in all slot machines before the end of January 2021. Veikkaus will also require all gamblers to produce some form of identification in order to be allowed access to any form of gambling, with the only exception being scratch cards. This will be completed in 2023. 

Paul Butcher

Hi, I am the Chief Editor of top10casinowebsites.net, this site is dedicated to all thing casino. I have been working around the casino industry for the last 12 years, with different brands. The main purpose of this site is to keep you informed with the latest news and offers around

Share
Published by
Paul Butcher

Recent Posts

LV Sands, Concerned About Online Competition Amid Plan to Build $6bn Casino

Summary: Las Vegas Sands chairman and CEO Rob Goldstein is concerned about the impact of…

3 weeks ago

Biloxi Casino Plans Advance as MGC Considers Two Venues

Summary: Tullis Gardens Hotel and the Tivoli development are in the works. The casinos would…

4 weeks ago

Rio Hotel & Casino Finishes Phase One of Massive Property Renovation Project

Summary: Rio Hotel & Casino has completed phase one of its multi-year property-wide renovation project.…

1 month ago

Industry Heavyweight Execs Talk Tech Future at TribalNet Conference & Tradeshow

Summary: Monday’s TribalNet Conference & Tradeshow brought together gaming industry executives who discussed the future…

2 months ago

Nevada Regulators Propose Solution for Armed Casino Security Shortage

Summary: The Nevada Gaming Control Board addressed the shortage of armed casino security following the…

2 months ago

Venetian Waiting for Final Approval for $550m Dividend Distribution

Summary: The Venetian in Las Vegas is getting ready for a massive dividend distribution. The…

3 months ago