RAY has a good 2010

Finland's state gambling monopoly RAY (Rahaautomaattiyhdistys), which extended its land gambling interests by entering the online sector late last year, published its 2010 numbers this week, recording a useful 3.7% growth in revenues to 674.5 million Euros - up 24 million Euros on the 2009 results.

Seventy nine percent of those revenues came from slot action, which contributed 536 million Euros to the revenue stream from just over 17,000 slot machines in 7,747 land locations.

Those overall figures can be expected to grow significantly as the company's venture into online gambling in partnership with software developer Playtech gathers momentum. Launched in November 2010, revenues from this new enterprise had already achieved a profit of 2.4 million Euros when the company closed its books for 2010.

The group profit at RAY last year grew 7.1 million Euros to 382.2 million Euros, accompanied by a relatively modest 5% increase in operating costs that included the set-up of the sally into online gambling through Ray.fi.

Source: InfoPowa News