Statement of Iowa Attorney General’s Office and Iowa Lottery upon resolution of TouchPlay litigation with Royal Financia

August 6, 2007 -- The Iowa Attorney General and the Iowa Lottery announced today that the State and Royal Financial LLC have amicably and fairly resolved this major TouchPlay case. The Attorney General negotiated the settlement with Royal Financial, and the State Appeal Board approved the settlement Monday afternoon. Royal Financial was the largest operator of TouchPlay machines in Iowa.

Under the settlement, the State of Iowa will pay $1,671,370.50 to Royal Financial. The State has denied any wrongdoing and the settlement agreement acknowledges the State’s denial of liability. Royal Financial will dismiss its lawsuit and will continue to cooperate with the State in making available documents and information sought by the State relating to the other TouchPlay litigation.

We believe this is a good, fair and reasonable settlement of the litigation with Royal Financial. Royal Financial operated about 1,650 TouchPlay machines, about a fourth of the total number of machines in Iowa. We are pleased to resolve a major portion of the TouchPlay litigation with the Royal Financial settlement.

Other litigation by other plaintiffs remains pending. The State will continue discussions with any other interested TouchPlay litigants, and the State intends to treat those plaintiffs in a similar fashion.

Source: Iowa Attorney General

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