RAY up despite depressed economy

Finland’s state-owned gaming interest Raha-Automaattiyhdistys (RAY), reported a good start to its 2013 year despite “the poor state of the economy”.

The Group’s digital channels yielded strong growth of 24.3 percent along with a pleasing increase in registered customers to 244 000 at end April 2013, the company said.

RAY reported a 3.5 percent increase in revenues to Euro 260 million over its first quarter, profits of Euro 145.3 million – up six percent and paid out Euro 31.1 million to the state for the period.

Managing Director Velipekka Nummikoski commenting on the results said: “The poor state of the economy has so far not had an impact on the Finnish Slot Machine Association’s (RAY) revenue. These are challenging times, but there have been no dramatic changes in slot machine gaming. On the basis of the first part of the year it is probable that our income goal for the current year will be met, and that means we will also be able to secure funding for our beneficiary organizations.”

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