OREANDA-NEWS. 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.