Finland's Slot Machine Association Profits Down Due To Tax

FINLAND'S SLOT MACHINE ASSOCIATION PROFITS DOWN DUE TO TAX

17th August, 2012 at 06:11:29
Source: http://www.azonlinecasinos.com

Taxation neutralises a solid performance

The 2% rise in Finnish taxation has neutralised an otherwise solid H1-2012 performance from Raha-automaattiyhdistys (Finland's monopolistic Slot Machine Association), which is more generally known as RAY.

The company reported:

* Revenues up 6.1% to Euro 377.7 million

* Tax paid Euro 45.2 million

* Profit down 0.6% year-on-year to Euro 198.9 million, with online profits powered by Playtech software up just over 68% to Euro 23.1 million

* Online player numbers doubled to 185,000

Online profits now exceed those of RAY's land casino (Euro 14.3 million) and its provision of games in places of entertainment such as restaurants (Euro 6.8 million).

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