Spanish Government’s €200m State Lottery plans

in Lottery

If you ever played the Spanish State Lottery – Loterias y Apuestas del Estado – and wondered how much money was raised from it, then here is some hopefully interesting information about its history, and its future.

SELAE, which controls the lottery, is a state-owned company, created in 1984, and is responsible for the management, operation, and marketing of all types of lotteries and games nationwide. The lottery in Spain is an activity that has been promoted by the State since 1763, when King Charles III created the Royal Lottery. In 1812, the Christmas Lottery known as ‘El Gordo’ (the Big One) was created, which has become the biggest lottery draw worldwide.

Maria Jesus Montero, Spain’s Minister of Finance, last Wednesday, October 13, delivered her accounts of the new General State Budgets (PGE) for 2022 to the Congress of Deputies in Madrid.

This document stated that the Government foresees the State Lottery and Betting Society of the State (SELAE), after taxes, earning €1,800 million in 2022. Compared to a revenue of €1,639 million in 2021, this would be an increase of around €200 million.

In 2021, the Executive stated that a figure of €8,132 million was the nett turnover of the State Lottery’s ancillary income, and other current management. By 2022, it is hoped that this total will rise to around €8,852 million.

On the other hand, the text figures the indebtedness of State Lotteries and Betting at €1,476 million at the end of the 2022 fiscal year, compared to the €1,169 million that were calculated for 2021.

Finally, the State Lottery and Betting Society intends to contribute a dividend to the State of €590 million in 2022, compared to €420 million euros in the previous year, as reported by 20minutos.es.

https://www.euroweeklynews.com/2021/10/17/spanish-governments-e200m-state-lottery-plans/