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Spain’s LAE restructured, regulatory powers transferred

14th March 2011 11:17 am GMT

Spain’s state lottery operator Loterías y Apuestas del Estado (LAE) is all set to proceed with part-privatisation plans after the country’s Council of Ministers approved its restructuring as a state society.

As a result of Friday’s approval, LAE now becomes the Sociedad Estatal de Loterías y Apuestas del Estado, taking over the assets and functions of the state lottery, while its previous regulatory functions transfer to the newly created General Directorate of Games. The new regulator [...]

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