FINLAND’S SLOT MACHINE ASSOCIATION PROFITS DOWN

Friday August 17, 2012 : FINLAND'S SLOT MACHINE ASSOCIATION PROFITS DOWN DUE TO TAX
 
Taxation neutralises a solid performance
 
The 2 percent rise in Finnish taxation has neutralised an otherwise solid H1-2012 performance from Raha-automaattiyhdistys (Finland's monopolistic Slot Machine Association), which is more generally known as RAY.
 
The company reported:
 
* Revenues up 6.1 percent to Euro 377.7 million
 
* Tax paid Euro 45.2 million
 
* Profit down 0.6 percent year-on-year to Euro 198.9 million, with online profits powered by Playtech up just over 68 percent to Euro 23.1 million
 
* Online player numbers doubled to 185,000
 
Online profits now exceed those of RAY's land casino (Euro 14.3 million) and its provision of games in places of entertainment such as restaurants (Euro 6.8 million)