Government of Spain formally announces privatisation of lottery

 

It was only back in September when the Council of Ministers of the State Gaming Draft Bill (through which the Spanish Government intends to regulate all forms of gambling in Spain), approved the Government's plans to privatise the National Lottery, granted by Royal decree.

The State Wagers and Lottery (Loterías y Apuestas del Estado) public body will eventually be replaced by a new body - The State Wagers and Lottery Company, which will report to the Ministry of Economy.

The previous, public company will cease to exist upon the registration of the new company with the Commercial Registry, the previous body's propety will then be passed on to the new company. The employees will be transferred across to the new company under, but they will be given the choice to opt out and remain the civil service under the Ministry of Economy.

The new company will also taken over the previous company's rental contracts and real estate, and for the remainder of 2011, take on the responsibilty for payments to the National Spanish Blind Association (ONCE), which, as of 2012 will be the responsibility of the National Administration.