Intralot Says Looking Into Case Involving Company Executives
Stock Chart for Intralot SA-Integrated Lottery Systems & Services (INLOT)
Intralot SA, the world’s second- biggest gambling services provider, said its lawyers are examining a case in which company executives may face prosecution relating to a contract with Opap SA (OPAP) and said an initial examination doesn’t equate to wrongdoing.
Probes by the European Commission and Greek courts have showed the “absolute legality” of the contract between Opap and Intralot, Athens-based Intralot said in an e-mailed statement late yesterday. The charges are based on a complaint filed in 2010, according to the statement.
Eleftherotypia newspaper reported yesterday that Intralot Chairman Sokratis Kokkalis may face prosecution following investigation into a technical-services contract between 2005 and 2007. The Athens Court of First Instance district attorney will investigate the deal, which reached 300 million euros ($432 million) from an initial estimate of 96 million euros, the Athens-based newspaper said.
“In Greece, the initiation of prosecution doesn’t amount to evidence of guilt in relation to the persons involved but on the contrary it constitutes the initiation of the process for examining on whether or not any evidence of wrongdoing exists,” according to the statement.
Intralot shares rose 5.5 percent to 1.73 euros at 11:42 a.m. in Athens trading, after a 22 percent decline yesterday. The May 30 closing price “does not represent the fundamentals and financials of the company,” Intralot said.
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