Online activity boosts Ray results
Finnish operator sees profits increase by 7.6% in 2011.
Finnish monopoly operator Ray has seen its profits increase by 7.6% over the course of 2011, the company revealed in its results for the 12 months ended 31 December.
It explained that “the popularity of internet games exceeded expectations during their first full operating year,” with 29.7m generated in online revenue over the 12-month period.
Gaming revenues for the year came in at 739.1m, a 9.6% year-on-year increase, while profits from gaming activities reached 410.8m for the year, a 29.1m increase compared to 2010.
Ray’s Playtech-powered poker offering ranks 31st for cash game traffic according to Pokerscout, however Finnish players are believed to have been drawn to PokerStars’ dot.eu offering “ launched last week following the operator’s receipt of a Maltese licence “ which allows them to play in a tax-free environment.