BUSINESS

RAY releases impressive profit figures

TAGs: Finland, ray

flag of finlandFinland’s state-controlled gambling monopoly, Rahaautomaattiyhdistys (RAY) saw its online gaming forecasts ring true as the company returned impressive profits. According to their press release from January to June gaming operation profits for the entire company were up 10.5% year-on-year to €355.8m. Most of the money made came from slot machines placed in business premises. That amounted to €275m, 77.3% of the profits from gaming operations.

Janne Peräkylä, RAY’s Deputy Managing Director, commented, “The profit margin is very good, when we take into consideration that the age limit of 18 years was already in place in over 90% of our gaming locations. The players have received our new game ideas very well.

“Now that the traditional branch of slot machine games is back on the track of development and profitable growth, we can, starting this autumn, concentrate on the game tables in the restaurants, casinos, and arcades and apply the same targets to them.”

In terms of online gaming operations, which were launched last November, they have been performing to the level expected. Profits for the first six months of the year were slightly less than €14m and therefore they’re on target to hit the projected figure of €28m for the year as a whole. The amount of registered players also surpassed 100,000 in the month of June and that figure will only keep growing.

There’s no way that they’ll even consider finnishing their time in the online gambling industry at this rate. Just wait until you guys find out about all the parties. You’ll never even consider leaving!

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com