Lottomatica Videolot Rete updates
This commencement does not change the position of Lottomatica nor that of its solicitors who have confirmed that the charges against its subsidiary are groundless, and the associated fines, estimated by the Prosecutor to be approximately four billion Euros, are without merit.
Lottomatica does not anticipate that this event will have any negative financial impact on the company.
Lottomatica firmly believes that, at all times, its subsidiary diligently met the obligations of the concession; this conclusion is supported by a technical evaluation performed by notable experts that highlighted the complete and full compliance of Lottomatica Videolot Rete to the required contracted service levels.
On this basis, the firm has requested and obtained a hearing before the TAR Lazio on January 23, 2008, to dispute the applicability of the proposed fines, which were previously suspended by the same TAR Lazio on July 25, 2007.
Lottomatica is confident that its position will be fully confirmed by the TAR Lazio. The first judicial hearing before the Corte dei Conti is set for December 4, 2008.
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