02/19/2012 : RAY DELIVERS RECORD RESULTS
Internet gambling exceeds expectations in first full year results
Finland's Raha-automaattiyhdistys (RAY), a state owned gambling monopoly whose proceeds go to domestic charities and social welfare projects, has released record results for its 2011 financial year.
Key performance indicators for the period, included:
– Total profits of Euro 410.8 million, Euro 29.1 million over the previous year.
– Disbursement of Euro 73.7 million to the State derived from lottery taxes, Euro 18.2 million over last year, over and above charitable disbursements
– A total of Euro 739.1 million from RAY's gaming operations – up 9.6 percent over 2010 – of which:
– Revenue generated from slot machines in partner premises was Euro 572.9 million
– RAY-owned arcades generated Euro 94.1 million in revenue
– Internet gaming exceeded expectations during their first full operating year, generating Euro 29.7 million in revenues.
Funding from RAY's operations will be distributed to 755 organisations for 1556 individual causes, while Euro 277.6 million will be distributed to health and social welfare organisations.
The Finnish Government will distribute a further Euro 13.4 million in investment funding. The total disbursement of funding amounts to Euro 291 million, almost Euro 25 million more than the previous year.
Additionally, RAY will disburse Euro 99.3 million to the Finnish State Treasury towards care for disabled veterans and has amassed Euro 60.3 million in funds to be utilised for social projects in the future.