Finland’s RAY on track for 2013 as online gaming growth continues1st October 2013 7:49 am GMT
Finland’s state-controlled gaming operator Rahaautomaattiyhdistys (Ray) said that it expects to meet its current forecast for the full 2013 year after posting a 2 per cent increase in revenues to €520.2m for the first eight months of the year.
The company said that slot machine gaming revenues were impacted by the overall economic recession in Finland, as well as decreasing private consumption rates.
Revenues from slot machines placed in RAY’s partner premises accounted for nearly 75 per cent of total revenues during the right-month period, after posting marginal growth compared to last year despite a moderate decline in revenues during the summer months.
RAY’s online gaming platform saw strong growth during the period, with revenues up 26 per cent to €39m and now accounting for 7 per cent of total revenues. At the end of August, the digital offering had approximately 260,000 registered customers.
The company’s own arcades contributed a further €63.5m in revenues, an increase of 2 per cent year-on-year, helping to offset a decline in revenues from casino games in restaurants and Casino Helsinki, down 1 per cent and 6 per cent respectively.
RAY distributed €62.3m to the state as lottery tax, equivalent to 12 per cent of revenues, with the operator generating a profit of €285.2m during the period, up 4 per cent versus a year ago.
RAY’s managing director Velipekka Nummikoski said: “Based on the current forecast, we will meet the profit goal of our budget, although most expenses are due towards the end of the year.
“Next year looks to be very uncertain for the national economy of Finland, but we will plan and budget our operations in order to secure the benefits for social welfare and health organisations and war veterans.”