Is Spanish Lottery Giant to Go Online?

Spanish gambling reform opens new horizons

In light of recent developments with the new Spanish law on gambling, a number of gambling companies seem to become much more open towards new online ventures. One of them is definitely a major Spanish lottery provider, Sociedad Estatal de Loterias y Apuestas del Estado SA, which expressed desire to occupy a prominent position in the international consolidation of the gaming industry in the coming years.

On June 1, the company chairman Aurelio Martinez stated that "it's clear that size is important in gaming,' adding that Loterias' international expansion plans do not only involve acquisitions, but also the globalisation of gaming and gaming technology.

In addition, he specified that Loterias also see a big chance in the fast-expanding online gambling sector, which they plan to join, adding that even though the last year's Euro 600 million in revenues realized in Spain make only a small portion of Spain's overall Euro 30 billion gaming market, there's much room for progress of this industry branch.

Loterias' plans also include listing on Spain's stock exchange this autumn, and it has been reported that the IPO will be the biggest on record in Spain, with a market value of between Euro 23 billion and Euro 25 billion.

It was stated by Martinez that, depending on the majority owners' wishes, the company could pay out between 80 percent and 85 percent of profits as dividends, adding that the privatization will see 30 percent of Loterias put up in order to get some Euro 7.5 billion as a crucial part of Spain's plan to cut its national budget deficit to 6 percent of gross domestic product this year and to 4.4 percent in 2012.

Bingo Society News General Bingo News

Login to post a comment:


Click Here to register a new account

What's going on right now!

1mins ago someone from us flag United States read article Sensational Summer Prizes at Heart Bingo

Bingo Community

Share this page on:
Follow LBB on:
Follow LBB

Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h


  • New Members
  • Members Online
  • Guests

eighteen plus only

Follow LBB on Facebook Follow LBB on Twitter Follow LBB on Pinterest Follow LBB on Google plus


Subscribe to our newsletter and get access to tournament codes, the biggest and best exclusive offers, new brand alerts, rogue reports and more!

Enter your email adress:

T&C's Apply. 18+

You have been successfully subscribed to receive LBB newsletter!