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Spain to re-establish state lottery after court ruling

Fri 28th Nov 2014
Spain to re-establish state lottery after court ruling

The Spanish government has been set a deadline of September 2015 by which to revise the rules that established the state-owned national lottery Sociedad Estatal Loterķas y Apuestas del Estado (SELAE), after the country's Constitutional Court found its establishment to be invalid.

SELAE was established in 2011 as a government-owned public entity under the control of the Ministry of Finance, replacing its predecessor Loterķas y Apuestas del Estado (LAE).

It was established to give the government access to capital markets as a means to reduce the country's budget deficit.

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