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Loterías y Apuestas del Estado, state-owned entity

Sociedad Estatal Loterías y Apuestas del Estado S.M.E., S.A., assigned to the Ministry of Finance and Public Administrations, was created through Royal Decree-Law 13/2010 of 3 December 2010, which reorganises the activity of the public entity Loterías y Apuestas del Estado (LAE). The abovementioned Royal Decree specifies that the company's Articles of Association, as well as its governing body, shall be approved by the Council of Ministers before 31 March 2011.

 

The company's share capital is comprised of the branch of activity related to nationwide games, including all assets and liabilities, properties and rights, as well as the operating permits that to date were owned by the public entity Loterías y Apuestas del Estado; it includes all rights and obligations related to points-of-sale and offices for which, by virtue of the additional thirty-fourth provision of Act 26/2009 of 23 December, on General State Budgets for 2010, the administrative regulations are still temporarily applicable, with all the guarantees indicated in the aforementioned provision remaining in effect.

 

The exclusive management of the state-owned games is the responsibility of Sociedad Estatal Loterías y Apuestas del Estado.

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