Eastern Europe's Largest Gaming Company Looking To Expand

The Russian government has made it clear that casino gambling will only take place in four regions outside of main cities. That decision has led to Ritzio entertainment Group to begin raising money that will be used to expand.

The company is already the largest gaming company in Eastern Europe. Now, they are planning to expand even further. they are preparing for expansion in Europe and Latin America.

Oleg Boiko controls the company, and he has made his intentions very clear. "Foreign gaming outlets are showing quite high sales growth and also high profitability," said Boiko. The company is seeking $500 million to but casinos around the world.

Ritzio is based out of Cyprus, but has casinos all over already. They have 160 gaming clubs in Germany. Italy and Spain are both on the radar as potential locations for new casinos. They recently opened a slot hall in Serbia.

"All gaming companies are looking at Western and eastern Europe because they are not sure what will happen to the gaming business in Russia and what returns they may get from operations in one of the four zones," said an analyst from ING Bank, Julia Gordeyeva.

May 13, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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