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RAY reports improved financial results

Finland’s state-run Raha-Automaattiyhdistys (RAY) gaming operator has released its financial results for the first four months of 2013 showing a 3.5 percent year-on-year rise in total revenues to €260 million ($337.7 million).

RAY was founded in 1938 and holds the exclusive rights to manage all gaming operations in Finland including slot machines and casino games and revealed that the period from January 1 to April 30 saw it hand out €31.1 million ($40.3 million) to the state in tax.

The operator said that gaming via digital channels ‘increased greatly’ during the period with a 24.3 percent swell year-on-year in revenues from this sector to €19.5 million ($25.3 million) while customer numbers for its RAY.fi online and mobile gaming service hit 244,000 by the end of April.

All of this left RAY with an overall profit of €145.3 million ($188.7 million), which represents a boost of some six percent year-on-year, with the firm proclaiming that the ‘poor state of the economy’ had not affected its overall revenues ‘so far’.

“These are challenging times but there have been no dramatic changes in slot machine gaming,” said Velipekka Nummikoski, Managing Director for RAY.

“On the basis of the first part of the year it is probable that our income goal for the current year will be met and this means we will also be able to secure funding for our beneficiary organisations.”

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