Bwin Bids for 30-percent stake in Spanish National Lottery

Austrian company tipped to be a frontrunner

It was reported by one of the biggest newspapers in Spain, El Mundo, that Austrian online gaming company Bwin is taking part in a bid for a 30 percent stake in Spain's State Lottery, and in fact currently occupies the frontrunner's position. The companies competing against it in this bid are Spanish companies Codere, Cirsa and Recreativos Franco as well as Italy's Lottomatica.

El Mundo learned from an anonymous source that the company is closely watching developments in Spain but continues its focus, for the moment, on its online business.

The intention of the Spanish Government in regards to the partial privatization of the lottery is to cut debt and to raise Euro 5 billion from its sale. The lottery's estimated revenue for 2010 amounts to Euro 2.6 billion ($3.5 billion), and it is renowned for its considerable El Gordo and El Nino draws.

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