Spain Sells Lottery To Cut Budget Deficit

May 25th, 2011   ·   Add Your Comment Now...

The Spanish lottery is about to get privatised, with the Government expecting to raise in the region of $10 Billion.

Spain hopes the sale of a 30% share in the national lottery will make a decent dent in the countries budget deficit. It’s likely the sale will be the largest IPO the country has ever seen, and also one of the biggest across Europe too.

We all know that Spain is completely lottery crazy, particularly when it comes to the El Gordo Christmas lottery – but the Spanish lottery is expected to see a market value as high as €25 Billion. Which would make it the second largest gaming company in the world.

Spain expects shares in the lottery company to be trading by the end of October 2011.

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