« News index »
BWIN VYING FOR STAKE IN SPANISH NATIONAL LOTTERY
05th December, 2010 at 14:58:36
Tipped to be a frontrunner in the bid for a 30% stake
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 privatize the lottery in order to cut debt and expects to raise Euro 5 billion from its sale. The State lottery has an estimated Euro 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. Bwin is active in the sports betting, poker and online casinos markets and is currently negotiating a merger with Party Gaming which is set to happen in 2011 (see previous reports).
Related News Tags: Party Gaming, Bwin, Spain, Lotteries
SPAIN'S ONLINE GAMBLING MARKET HAS A SOUND FUTURE
29th March, 2017 at 19:48:16
Analyst says sector likely to deliver Euro 500 million in Revenues in 2017.
BWIN AWARDS PAN-EUROPEAN ONLINE GAMBLING ADVERTISING ACCOUNT
28th March, 2017 at 19:47:54
BBH Sport wins significant account after a competitive pitch.
TEUFELBERGER APPOINTED CHAIRMAN OF EVERYMATRIX
28th March, 2017 at 11:21:29
Following Euro 4.3 million private strategic investment round.
WEST VIRGINIA ONLINE GAMBLING BILL MEETS EARLY OPPOSITION (Update)
25th March, 2017 at 08:38:18
HB3067 faces political and time constraints.
GVC HOLDINGS POSTS 2016 RESULTS
23rd March, 2017 at 09:52:25
Group NGR tops 9 percent, but bwin acquisition ensures a pre-tax loss of Euro 138.6 million