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Update ITALY VLT MARKET


VLTs operate with a stake of 50c - €10 and a maximum cash payout of €5,000, a


percentage return


of not less than 85 per cent (AWPs


currently offer a 90- 92 per cent


payout), a venue


jackpot maximum of €150,000 and a system wide


progressive jackpot of €500,000.


A tax rate is set of


two per cent up to 2011 increasing to three per cent


(2012) then four per cent (2013) The


operator will retain 50 per cent of the cashbox, 15 per cent goes to the supplier of the


leased VLT product and 35 per cent goes to the


concessionaire.


CONCESSIONAIRES Cirsa Italia Sisal Slot


COMMA 6A MACHINES Comma 6a - 16,100 Comma 6a - 33,200


Lottomatica Videolot Comma 6a - 69,000 GMatica Codere


HBG Connex Betplus


Gamenet Cogetech SNAI


TOTALS


Comma 6a - 14,775 Comma 6a - 8,400 Comma 6a - 32,000 Comma 6a - 77,600 Comma 6a - 50,000 Comma 6a - 35,000 Comma 6a - 35,000


COMMA 6A - 371,000


It's also the case that certain concessionaires have been disadvantaged by the phased deployment, with several having signed supplier agreements with second phase suppliers, but who to date have been unable to turn their licences into machines on the ground. The phasing makes practical sense, as years of the concession would have been lost had SOGEI and AAMS decided to wait for the certification and homologation of every platform and system, but that's not to say that the outcome has been fair.


The collaudo process hasn't exactly gone smoothly either. The location testing process, collaudo, is the joint certification of a VLT location by AAMS and the regional district police as part of Clause 88 of the law which has been adapted for VLT machines. However, until a few months ago, the majority of the police force in Italy had no idea what a VLT was, let alone that it was meant to certificate them. Some of the districts as a result have been reluctant in giving their permission, while others have greatly complicated and compromised the collaudo process.


Several of the district have insisted that delivering the Dynamic bonusing at the point-of-play floor-wide experience


VLTS


VLTs - 2,583 VLTs - 4,900 VLTs - 10,700 VLTs - 2,236 VLTs - 1,359 VLTs - 4,800 VLTs - 11,953 VLTs - 7,805 VLTs - 5,200 VLTs - 5,052


VLTS - 56,588


LICENCE COST €19.3m €36.9m €80.7m €16.7m €10.2m €36m


€89.6m €58.5m €39.2m €37.9m


COST ¤425M


the location must be open before they'll grant a certificate. The Catch-22 here is that operators need a certificate in order to open a location. It's a typically Italian dilemma, with district police unwilling to grant certification to 'paper' applications. In order to resolve this stand-off, operators have had to open locations with Comma 6a machines under a standard gaming hall licence before asking for the Clause 88 licence. It's a working compromise that has its risks, as the district is under no obligation to grant the VLT licence despite the considerable investment. The problem thankfully isn't that widespread, but in a market that is struggling to fulfil its quota of VLT locations, it's a headache that operators don't need.


The larger issue is that there are not enough prime sites in Italy that can be adapted as VLT locations. Several of the larger concessionaires are now being extremely selective in picking their sites. They are not accepting the majority of the halls offered to them, while even locations with 6a machines installed (which speeds VLT certification greatly), are having incomes studied in great detail before decisions are made.


Your


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