15 Dec, 2010 @ 10:00
1 min read

Selling the fat one

FOR many Spaniards it marks the beginning of Christmas.

But the government has unveiled plans to partially privatise the world-famous El Gordo – or fat one – Christmas lottery.

As the country desperately tries to avoid a debt bailout Spanish Prime Minister José Luis Zapatero, announced 30 per cent of the lottery would be sold to investors as part of a plan to get Spain back on a secure footing.

The sale is expected to raise in the region of five billion euros.

And it means the private sector will now see a share of the profits.

The lottery has ushered in the Spanish Christmas season for almost two centuries since 1812.

And last year Spaniards spent an average of 75 euros a head on El Gordo in the hopes of taking home the millionaire prize.

Jon Clarke (Publisher & Editor)

Jon Clarke is a Londoner who worked at the Daily Mail and Mail on Sunday as an investigative journalist before moving permanently to Spain in 2003 where he helped set up the Olive Press. He is the author of three books; Costa Killer, Dining Secrets of Andalucia and My Search for Madeleine.

Do you have a story? Contact newsdesk@theolivepress.es

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