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Time wins initial ruling

Time wins initial ruling

Al-Waqt Events Company announced that the General Court in Riyadh has issued a preliminary ruling requiring the Horse Racing Club to pay outstanding amounts for work related to the Charity Horse Auction Festival, totaling more than SAR 873,000. Both parties have the right to appeal within 30 days. The company will not recognize any financial impact in its results until the ruling is final and the amount has actually been collected.

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