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Spanish State-Owned Lottery Companies Had Record Growth in Revenue

27 August 2020, 11:23
Votes: 1

As the latest news about the lottery indicates, Spanish state-owned companies connected with this sector have seen the record increase in revenue in 2019.

Spanish State-Owned Lottery Companies Had Record Growth in Revenue

The previous year became successful in terms of income for such companies as Loterías y Apuestas del Estado and ONCE. The main reason for this is that they have reached the highest point in revenue for eight years. Loterías y Apuestas del Estado (State Society for State Lotteries and Bets or SELAE) is responsible for all lotteries within the country. ONCE is a foundation aimed at raising funds for people with disabilities, and lottery products help it with this as all money generated from this service are given to charity.

Last year was profitable for lotteries

The total number of sales in 2019 has increased by €11 512 million (3.12%), and it is the biggest sum since 2011. It means that the growth tendency exists. According to the data received from lotteries, both SELAE and ONCE have increased the number of sales and the amount of revenue considerably.

For example, ONCE’s revenue has grown by 4.4% to €2255 million. The foundation used so-called “instant wins” that helped it to boost sales by 11% to €689 million. In addition to this, it focused more on cheaper lottery products, which also stimulated the acquisition of new players. SELAE has seen the same growth in sales – they have grown by 3% to €9 257 million, which is the highest rate since 2011 as well. The companies compete with each other in the online lottery sector, although this channel brings less profit than offline products. However, ONCE has recorded a 22% increase in the consumption of virtual products in 2019.

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