RAY Posts Miniscule Increases
By Staff
Finland’s State-owned slot machine association, Raha-Automaattiyhdistys (RAY) has announced a one percent year-on-year increase in gaming revenues and turnover for 2008.

Despite this, it revealed that profits for period dropped one percent to $505.27 million as revenues increased to $827.16 million with turnover hitting $759.33 million.

RAY stated that the results were in line with its targets for moderate growth and explained that the difference between its revenues and turnover represented a lottery duty of $68.11 million that it paid to the State.

For the year, RAY announced that its investments in games and gaming services totalled $33.38 million while profit amounted to 66.5 percent of turnover, which it stated represented a slight reduction on 2007.

Just over 78 percent of turnover was generated by slot machines located around Finland while 3.3 percent came from casino games such as roulette and blackjack played in pubs and clubs. RAY’s own arcades produced 13 percent of turnover while Helsinki’s Grand Casino accounted for 5.4 percent.

For 2009, RAY stated that it would continue to revitalise its gaming operations by offering slot machines that accept electronic payments alongside coins and by introducing a broader range of gaming alternatives.

“RAY’s longer-term objective is to extend the ePayments and associated identification checking systems to all of its games,” read a statement from the State-owned concern.

“This not only benefits players but also supports efforts to monitor compliance with age limits and to control gambling problems. During 2009 and over the next few years, RAY is set to invest more than ever before in new technology and the development of its gaming activities.”

Underlining its commitment to society, RAY revealed that it would spend $502.34 million of its profits together with $9.03 million in undistributed profits from previous years to promote health and social welfare in Finland.

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