Sisal Annual Report 2011 - Permira

Cash and cash equivalents (13)Cash and cash equivalents as of December 31, 2011 are as follows:Cash and cash equivalents(in thousands of Euro)At31.12.2011At31.12.2010Bank and postal accounts 166,208 116,086Restricted bank and postal accounts 114,320 354,863Cash and cash equivalents in hand 3,164 1,932Total 283,692 472,881Restricted bank and postal accounts comprise EUR 114 million for prize money,including the amount deposited for the special winnings of the Vinci per la vita -Win for Life games and for the so-called SuperStar Reserve Fund which holds thedifference between the available prize money and the winnings payable calculatedfor each single game.These accounts are managed by the Group but their use is restricted to the paymentof the cumulative prizes on the relative games. The amounts in the depositaccounts for the prize money decreased considerably (approximately -EUR 240million) compared to the prior year mainly due to the effect of the SuperEnalottofirst category winnings, which had already been paid at the end of the year, aswell as the decrease in 2011 in the balance of the SuperStar Reserve Fund due tohigher winnings payable in 2011 compared to the prize money accrued and thededicated bank account for special winnings for the Vinci per la vita - Win for Lifeand Win for Life Gold games owing to a decline in game volumes during the year.This was partly offset, compared to the end of 2010, by a higher SuperEnalottoJackpot amount carried forward to the first game of the next year and the openingof a new bank account to manage the winnings relating to the new NTNG gameknown as SiVinceTutto SuperEnalotto introduced in 2011.Ordinary cash amounted to approximately EUR 166 million, with an increase ofEUR 50 million compared to the prior year-end. This change is due to cash flowsfrom a better overall trend of operations by the Group, particularly by Sisal SlotS.p.A. and Sisal Match Point S.p.A. This allowed the Group to meet its furthersignificant commitments mainly formed by investments and by the service of theoutstanding structured financial debt.84 SISAL ANNUAL REPORT 2011