Lotto Arbitration: AAMS Appeals to the Supreme Court

ROME, ITALY and PROVIDENCE, RHODE ISLAND (US) – May 31, 2012 – Lottomatica Group S.p.A. reports that Amministrazione Autonoma dei Monopoli di Stato (AAMS) has appealed the Lotto ruling of the Rome Court of Appeal before the Supreme Court of Cassation. As previously announced in the Group’s March 6, 2012 press release, the Court of Appeal had rejected AAMS’s appeal against the August 2005 arbitration award, confirming it. The arbitration had determined the initial starting date for the Lotto Concession to be June 8, 1998, and, as such, the final expiration date of the Concession would be June 8, 2016. The Rome Court of Appeal had confirmed, with its ruling, the outcome of the arbitration. AAMS’s appeal is based upon the same grounds which were previously rejected by the Rome Court of Appeal.

 

A proceeding before the Supreme Court of Cassation takes, on average, approximately two years. It should be noted that this appeal by AAMS neither suspends the Lotto arbitration award nor the March 6 Court of Appeal ruling. Furthermore, should AAMS’s appeal be granted, the entire matter will revert back to the Court of Appeal.