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Sport Ministry's $63 mln lawsuit against lottery operator delayed

16:09 07/12/2011

MOSCOW, December 7 - RAPSI, Natalia Belova. A commercial court postponed on Wednesday until December 13 its hearing of the Sport Ministry's claim against the Orglot lottery operator for $63 million, the Russian Legal Information Agency (RAPSI/rapsinews.com) reports from the courtroom.

The dispute centers on a state contract signed on November 22, 2006, for an online all-Russian lottery.

The court postponed the case to allow the parties time to review additional documents.

The sports authority established Gosloto lottery in 2006 and chose Orglot as its operator. Under the contract no less than 50 percent of its income Orglot shall pay into the prize pool, 15 percent - to finance the 2006-2015 physical culture and sport development program.

In July 2010 Audit Chamber stated that it deems the 26.9 billion ruble ($865 million) proceeds from the Gosloto Lottery set by the sports authority in the program overestimated. In chamber's view such income is economically unreasonable.

Gazprombank was an Orglot's founder, but withdrew from the business in 2007.

Some 51 percent stake in the company was then purchased by Sandor Demjan, the president of Hungary's TriGranit. Owners of the other stakes in the company have not been disclosed.

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Sport Ministry's $63 mln lawsuit against lottery operator delayed

16:09 07/12/2011 A commercial court postponed on Wednesday until December 13 its hearing of the Sport Ministry's claim against the Orglot lottery operator for $63 million.
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