Finnish state-owned operator Veikkaus has appointed Ilkka Kosola as its new CFO. Kosola will step into the role by the end of September, and will play a key part in the company’s ongoing transformation.
He is currently CFO at Reaktor, a global technology company that designs and builds digital products and services for clients such as adidas and HBO. He has held this role since 2022 and will remain in post until he moves to Veikkaus.
He has more than 20 years of experience in senior finance leadership and board positions. His expertise includes business controlling, financial accounting, AI in finance, M&A, investments and sourcing.
Veikkaus CEO Olli Sarekoski stated: ‘’Ilkka's broad and international experience in leading finance and IT functions, combined with his proven ability to drive change and execute strategic transactions, makes him an excellent fit for Veikkaus as we navigate this period of significant transformation.’’
Kosola’s appointment comes at a pivotal time as Finland is moving towards a more liberalised gambling market.
The country’s licensed market is now scheduled to launch on 1 July 2027. Veikkaus will retain its monopoly over lottery-type products, scratch cards, land-based slot machines and casino games.
Meanwhile, the Finnish Government is considering a potential future listing of Veikkaus. However, officials have said several milestones must be met before an initial public offering (IPO) can be considered.
These include full implementation of the required legislative reforms, favourable market conditions for a listing and proof that Veikkaus can compete effectively in an open market environment.
Ahead of its regulated gambling market launching on 1 July 2027, Finland has authorised a new regulatory body with broader powers to oversee all gaming operations in the country, replacing the National Police Board
