"Year of change" sees RAY online revenues falter
Digital revenues in 2014 slip 1% as RAY managing director Velipekka Nummikoski backs its ongoing strategy for the year ahead
Finnish monopoly RAY’s full-year online revenues slipped 1% to 59.5m in 2014 after the operator suffered at the hands of a “year of change”, its managing director Velipekka Nummikoski said.
In a trading update issued this morning, RAY bemoaned the “zero growth” in Finland’s gaming market and said the country’s financial situation had been “duly reflected” in its performance.
“The fact that our results remained as good as they did is thanks to our entire staff, who were quick to adapt to the changes we implemented over the year,” Nummikoski said.
In September last year RAY revealed digital revenues for the first eight months of 2014 had fallen to 38.7m, with revenues for the final four months standing at 20.8m.
The update comes less than a fortnight after the operator penned a 20-year extension to its gaming supply deal with Playtech, under which RAY is set to receive new multi-channel gaming software and content in order to bolster its digital and retail presence.
The deal takes RAY’s association with Playtech into 2035, with the previous deal having been set to expire next year.
Total revenue for the year including RAY’s land-based businesses topped 776m, with profits for the year totalling 410.m.