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Ritzio Ratings Not Immediately Affected By Russia's New Legislative Proposal On Gaming

October 9, 2006
Standard & Poor's Ratings Services
said today that its ratings and outlook on Cyprus-domiciled Ritzio
Entertainment Group Ltd. (B/Stable/--; Russia national scale 'ruA-'), the
operator of gaming businesses in Russia and other countries, are not
immediately affected by President Putin's proposed new legislation on the
regulation of gaming activities in Russia. The new proposal stipulates that
from 2009 all gaming activities would only be permitted in specially
designated zones located outside densely populated residential areas. Although
we consider that the proposal is likely to be approved and passed into law in
a short period of time, its implementation would depend on the introduction of
various regulatory statutes to determine, among other issues, the exact
location of the gaming zones. As uncertainties regarding the regulation of
gaming activities in Russia have already been factored into the ratings, no
further rating action is necessary at this time. Nevertheless, Standard &
Poor's will continue to closely monitor the situation for indications of any
possible impact on Ritzio's creditworthiness.
  • Full name
    Ritzio International Limited
  • Registration country
    Cyprus
  • Industry
    Other sectors