Finland 's Ray Revenues Rise

FINLAND 'S RAY REVENUES RISE

31st August, 2012 at 08:00:53
Source: http://www.azonlinecasinos.com

But net income behind. Internet gaming exceeds expectations.

The Finnish Slot Machine Association ( RAY ) reported a 6.1% rise in revenue in its HY1 2012 results this week although the company's net income fell behind due to tax increases.

Other key indicators for the period included:

- Profits of Euro 377.7 million

- Net Income Euro 198.9 million

- Gaming locales generated Euro 46.8 million in revenue

- Profits from casino games located in restaurants and gaming halls lagged behind the same period last year delivering a total of Euro 6.8 million

- Profit from Casino Helsinki reached Euro 14.3 million, an increase of 9.4 percent

The company reported internet gaming profits that "generously exceeded all expectations yielding Euro 23.1 million, an increase of 68.2% over last year. Online games now generate 6% of RAY's gaming operation revenues.

RAY's online player registration doubled over H1 2011 and now stands at around 185 000 online players.

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