Updates on the alleged money-laundering case at Giochi del Titano: it has been confirmed that the company’s general manager, Salvatore Caronia, is under house arrest. Seven people are under investigation: five from within the company, including his deputy, plus an entrepreneur and his partner.
According to the prosecution, cash from a scheme of fake invoices flowed into Rovereta and came back out as cheques for slot-machine winnings: nearly €7.5 million between 2019 and 2026.
The investigation originated with the Ravenna Public Prosecutor’s Office, on suspicion of complicity in money laundering, and San Marino’s Court ordered a search of the public company’s headquarters. According to what Insider has learned, the Guardia di Rocca acted under an international rogatory request.
The scheme described by prosecutors unfolds in two stages.
In the Bergamo area, the entrepreneur allegedly collected large sums of cash — the return on wire transfers tied to non-existent transactions, routed through four shell companies linked to him.
The money was then allegedly driven to San Marino, where — with the help of alleged inside complicity — it was converted into Giochi del Titano cheques presented as gambling winnings and deposited in the bank.
The alleged mechanism relies on simple arithmetic. Slot machines pay out, on average, between 92 and 95 per cent of what is wagered: losing a small percentage would have been the price of laundering the rest.
San Marino’s Financial Intelligence Agency traced transactions totalling €7,493,421.67, compared with declared income of between €5,000 and €38,000 for the entrepreneur.
Investigators believe some employees reserved specific machines for the couple, keeping other customers away. Wiretaps reportedly reveal prior arrangements over the cheques, as well as the entrepreneur’s complaints about an alleged 20 per cent commission.
Caronia is said to have intervened directly: he allegedly pressured officials at Banca Agricola Commerciale not to request the suspect’s income declaration, threatening to cut ties between the company and the bank.
San Marino’s Law Commissioners have ordered the seizure of the suspects’ electronic devices and of ten slot machines.
Motherboards and servers will be examined to determine whether computer fraud was also involved — that is, whether software had been altered to force otherwise improbable wins.
The weight of the case lies in the numbers.
Giochi del Titano is among the most profitable public companies: in 2025 it posted revenues of more than €31.5 million and net profit of about €8.5 million. The State became its sole owner by buying back, in instalments, the 24 per cent stake previously held by the Chamber of Commerce, a deal worth around €8 million due to be completed in 2027. Caronia has led the company since 2009.
The investigation is still ongoing: the presumption of innocence applies to all those involved until a final verdict is reached.
Insider remains available to those concerned for replies and clarifications.
