Request to facilitate the settlement
Porcari (Lu), October 15 2013 – Today SNAI S.p.A. (“SNAI” or “Company”) filed a request before the Court of Auditors, Central Division of Appeal (Corte dei Conti, Sezione Centrale d’Appello), to facilitate the settlement (definizione agevolata), pursuant to article 14 of Law Decree n° 102 dated August 31 2013 (the “Decree”), of the appeal against the first-instance judgement of the Court of Auditors, Lazio Division (Corte dei Conti, Sezione Lazio), n° 214 dated February 17 2012 (the “Judgement”).
The Judgement, the execution of which as per today is suspended, convicted the Company for a monetary penalty of Euro 210 millions as loss of revenues (danno erariale) for the alleged inobservance by the Company of the service levels required by the public concession for the collection of the legal gaming via amusement with prize machines.
The Company, even though rejecting the Judgement’s charges, filed the request for the settlement (definizione agevolata) provided for by the Decree, taking into consideration the opportunity to define the litigation considering the risks relating to the timing of the procedure and its final outcome.
SNAI offered to pay the minimum amount of 25% of the penalty provided for in the Judgement, equal to Euro 52,5 millions acknowledging that, in the event the Court of Auditors (Corte dei Conti) would not admit the Company to the settlement (definizione agevolata), the appeal proceeding will continue ordinarily. SNAI is currently liaising to obtain the relevant funding.