Oleg Boyko, the Russian billionaire who controls Eastern Europe’s largest gaming company, said his businesses plan to raise $1.5 billion this year to fund expansion in gambling, retail and real estate.

Ritzio Entertainment Group will seek $500 million to buy gaming chains in Europe and Latin America, while the Finstar holding company will look for $1 billion of new funds to bolster its store chains and property unit. The money will be raised through loans, bond sales and investment by individuals, Boyko said.

Ritzio wants to open gaming halls outside Russia, where the government is confining gambling to four regions beyond the nation’s main cities in July 2009.

Last month, Ritzio added slot machine halls in Serbia. Now, according to Boyko, who owns approximately 75 per cent of the company, Ritzio is also looking at Japan and aims to expand in the Czech Republic, Romania, Columbia, Ukraine and Italy.

Oleg Boyko is a Russian billionaire who is currently ranked Russia’s 65th richest man by Forbes magazine.//REPORTER.MD



Publication date: 12 May 2008   

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