Online gaming growth boosts RAY revenues
State-owned operator sees no impact from economic downturn on revenues for first four months of 2013
Finland’s state gambling operator Rahaautomaattiyhdistys (RAY) has posted a 3.5% year-on-year rise in revenues for the first four months of 2013, driven by growth in its Playtech-powered egaming offering.
RAY’s managing director Velipekka Nummikoski said that with “no dramatic changes” to revenues despite a “challenging” economic climate, it was probable that [its] income goal for the current year will be met”.
The online division recorded revenues of 19.5m for the period ended 30 April, which represents a 24.3% increase on 2012’s takings. The period also saw customer numbers notably increase, rising to 244,000 across all channels from the 221,000 reported in its full-year results for 2012.
The online offering is powered by Playtech, which supplies casino, poker and mobile products, having secured a four-year contract following a tender process held in 2010 and a two-year extension of the deal in April.
Total revenues grew to 260m in the first four months of 2013 resulting in a total profit of 143.5m.