Veikkaus brands post final set of separate results

Fintoto, Finland’s Slot Machine Association (RAY) and Veikkaus have revealed their final set of separate full-year results, after completing a planned merger at the start of 2017.

Effective January 1, the three companies now operate under the umbrella brand of Veikkaus and will report financial results as single entity, owned entirely by the Finnish State.

The legacy Veikkaus operation posted record turnover of €582.6 million ($618.9 million) in the 12 months to December 31, 2016, which represents an increase of 8.5% on the previous year.

Veikkaus paid out €81 million in prizes during the year and was able to generate a total of €799.3 million in social funding for the country.

Meanwhile, RAY was also able to achieve record turnover of €809.4 million in the 12-month period, in addition to a profit of €423.5 million.

RAY also reported an increase in turnover from digital games, with the €73.3 million collected by the year-end 14% more than in 2015.

In addition, Fintoto turnover climbed 2% year-on-year to €235.3 million, but reported a loss of €2.5 million, compared to a profit of €800,000 in the previous year.

Total turnover in the Finnish market during 2016 amounted to €3.5 billion, 3% up on 2015, while the share of cross border gaming out of the total market remained under 8%.

Related article: Sarekoski to head up newly branded Veikkaus