Finstar Financial Group announces the sale to management of Pobeda State Lotteries LLC, an operator of a Russian state lottery under the same name.
The purchasers of the company are its current senior management team headed by the general director Oleg Butenko. The change of ownership will be seamless and have no impact on lottery participants. Pobeda’s liabilities under the state contract are insured by bank guarantee.
The Pobeda all-Russian state lotteries were founded in 2010 by a decree of the Russian government. The Federal Agency for Special Construction managed by the Ministry of Defense of Russia is the organizer of the lotteries. Starting in July 2014, Pobeda became one of three lotteries authorized to operate in the Russian Federation, along with Gosloto and Sportloto. In mid-2014, Pobeda incorporated two non-state, but very popular brands – the Golden Key and the Railways Lottery.