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Bwin vies for 30% stake in Spanish national lottery

Spain's second-largest newspaper, El Mundo reports that Austrian online gaming company Bwin is a frontrunner in a bid to purchase a 30% stake in Spain's State Lottery. Other companies interested in the purchase of the stake include Spanish companies Codere, Cirsa and Recreativos Franco as well as Italy's Lottomatica.

The Spanish Government announced plans this week to partially privatise the lottery in order to cut debt and expects to raise €5 billion from its sale. The State lottery has an estimated €2.6 billion ($3.5 billion) revenue for 2010 and is renowned for its considerable El Gordo and El Nino draws.

An un-named source told El Mundo that the company is closely watching developments in Spain but continues its focus, for the moment, on its online business.

Source: InfoPowa News

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