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Italian VLT settlement hits CIRSA’s bottom line in Q3

28th November 2013 8:19 am GMT

Spanish gaming operator CIRSA has reported a net loss of €32.4m for the third quarter of 2013 following the company’s settlement to resolve a long-running court case with Italy’s Court of Auditors (Corte dei Conti).

CIRSA’s results were impacted by a one-time settlement payment of €36m, along with €1.5m in interest payments, which followed an alleged violation of the terms of a concession agreement relating to the opening of Italy’s video lottery terminal (VLT) market [...]

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