PRESS RELEASE
ROME, ITALY and PROVIDENCE, RHODE ISLAND (USA) – November 9, 2011 - In relation
to several items communicated on Tuesday, November 8, by Italian gaming regulatory
body AAMS Director General to the Finance Committee of the House of Deputies
regarding the content of the Executive Decrees in Bill 138 (the "austerity package 2")
that AAMS must adopt, Lottomatica Group would like to specify the following.
Although the content of the aforementioned Decrees is not yet fully known, it is possible
to make several observations after an initial assessment of the elements that have
emerged.
- 6% tax on winnings over €500
In the past, the Italian gaming sector has experienced similar increases to the
ones just announced. For the game of Lotto, where today all winnings are already
taxed at 6%, previous taxation has never negatively influenced consumer habits.
The new measure concentrates taxation on winnings that are significant in value,
but rather limited in terms of frequency. Based on Lottomatica’s in-house
estimates, more than 95% of winnings relative to the entire product portfolio
would not be affected.
Consequently, the new measure does not seem to have characteristics that will
affect consumer demand.
(to be continued)
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