The Spanish Government has decided to temporarily suspend the IPO of National Lotteries. In December 2010, the Government decided to partially privatize the public entity, allowing for the entry of private capital to improve management efficiency, as well as to provide the company with greater capacity to respond to the more competitive environment established by the new Gambling Law. Since then, capital market conditions have deteriorated substantially and the entity in charge of the IPO (SEVALAE in Spanish) considers that the current conditions will not ensure a proper valuation of National Lotteries. The operation will not move forward until market conditions improve.