【online melbet login】Gaming industry veteran Charles Cohen added to Veikkaus board

Cohen’s election comes amid a significant period of transition for Finland’s gambling industry, with legislative changes poised to end Veikkaus’ long-standing monopoly in certain verticals.

Cohen brings an extensive background in gambling technology and executive leadership.

In addition to founding Department of Trust, a company focused on player identity verification and compliance solutions, he also serves as an advisory board member for Games Global.

Previously, he held a senior leadership role at International Game Technology (IGT) as vice president of mobile, PlaySpot, and North America sports betting, where he was instrumental in driving mobile and retail sports betting initiatives across US markets.

He also has prior experience as a non-executive director, further rounding out his credentials in governance and strategic oversight.

Cohen’s appointment to the Veikkaus board was confirmed during the company’s Annual General Meeting (AGM), where it was decided that the board would now consist of seven members.

In addition to Cohen, the AGM re-elected several incumbent members, including Kaisa Olkkonen as chairman and Leena Vainiomäki as vice chairman.

Minna Pajumaa, Ossi Lindroos, and Katri Harra-Salonen also retained their seats. Martti Ala-Härkönen, vice chair of the board of directors of IT services company Digia Plc, was elected as another new member alongside Cohen.

Three previous board members — Anne Larilahti, Juha Väre, and Christian Cedercreutz — did not seek re-election and have stepped down. No reason for their decision was given.

Veikkaus closer to losing gaming monopoly

The timing of these changes is critical, as Veikkaus faces a potential restructuring of its market position under a proposed legislative overhaul.

A new bill introduced to the Finnish Parliament seeks to dismantle Veikkaus’ monopoly in key online gambling sectors, including digital slot machines and sports betting.

If the law is passed, these areas would transition to a competitive licensing system by 2027, enabling international operators to legally offer their services within Finland under regulated conditions.

The proposed framework aims to address several policy objectives.

First, it is designed to channel gambling activity toward regulated platforms to reduce the share of gambling conducted on offshore or unauthorised sites.

Second, it seeks to implement stricter controls to mitigate gambling-related harms, including financial loss, addiction, and underage gambling.

As part of this strategy, mandatory identity verification would be extended to all forms of gambling, both online and land-based, ensuring that only individuals aged 18 and above are able to participate.

Despite the liberalisation of some sectors, Veikkaus would maintain its exclusive rights to operate lottery draws, scratch cards, physical slot machines, and land-based casino venues.

The government’s approach reflects a hybrid model, combining state control in high-impact, low-risk verticals with open competition in online segments that are harder to police under a monopoly framework.

Cohen to be key to transition

The inclusion of Cohen on the board is viewed as a strategic move in light of these forthcoming changes. His expertise in compliance, identity verification, and digital gambling technologies aligns with the regulatory priorities outlined in the proposed law.

His role is likely to involve advising on how Veikkaus can adapt to the future regulatory landscape, either by pivoting to operate within the new licensing model or by focusing its efforts on strengthening its remaining monopolised segments.

Veikkaus has already begun preparations for the potential regulatory shift.

In recent months, the company has restructured some of its business units and introduced enhanced responsible gambling tools, such as mandatory loss limits and self-exclusion features.

The new legislation would codify many of these practices, making them a requirement for all licensed operators in Finland.

The Finnish government has cited successful examples from other European countries, such as Sweden and Denmark, which transitioned from monopoly-based systems to licensing regimes in recent years.

According to the Ministry of the Interior, a well-regulated open market can better capture tax revenues, ensure consumer protections, and provide a fair competitive landscape for domestic and international businesses alike.

Should the bill pass, the Finnish Gambling Authority would oversee the licensing process and compliance enforcement.

It would have the authority to grant, suspend, or revoke licenses based on operators’ adherence to Finnish regulations. The agency would also monitor advertising, customer protections, and financial integrity.