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Gtech SpA Announces Application for Settlement on New Slot Ruling Filed by Lottomatica Videolot Rete with Audit Department (Corte dei Conti)


Tuesday, 15 Oct 2013 10:30am EDT 

Gtech SpA announced that its subsidiary Lottomatica Videolot Rete has filed a request for the settlement (definizione agevolata) of the first degree ruling issued by the Audit Department (Corte dei Conti), referred to in previous press releases on June 28, 2007, July 26, 2007, January 9, 2008, April 1, 2008, May 29, 2008, and February 20, 2012. As a reminder, Corte dei Conti quantified at EUR 100 million Lottomatica Videolot Rete’s responsibility for alleged loss of revenue to the State for not fully complying with certain service levels, and Lottomatica Videolot Rete filed an appeal - for which the hearing has not been set yet - holding that the said ruling is without grounds. The Corte dei Conti can either deny the request - in which case the appeal trial shall proceed - or grant it, determining the payment settlement amount up to a maximum of 30% of the amount established in the first degree ruling. It should be noted that the application filing does not imply an admission of guilt, rather its only purpose is to settle a dispute involving monetary amount, thus making it possible to resolve a potentially drawn-out situation. 

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