ANYONE arriving at the Palms Royale Sofia can see immediately that they have not entered a traditional casino.
Opened in April 2021 and occupying around 6,000 square metres within the Bulgarian capital’s landmark 5-Star Grand Hotel Millennium, the venue combines fine dining, live entertainment, luxury hospitality, private gaming salons and one of the largest poker rooms in Southeast Europe.
"You see, I never wanted to build just another casino," says Palms Royale Sofia founder Milo Borissov. "So, gaming is only one part of the experience."
For Borissov, 64, the Palms Royale Sofia also highlights more than three decades of business reinvention. From computer engineer and gaming technology pioneer to software developer, online entrepreneur and now luxury hospitality operator, each stage was shaped by a willingness to adapt before the market demanded it.
His path began in the 1990s. Bulgaria was emerging from 45 years of communist rule (1944-1989) and private enterprise was still in its infancy.
Fresh from university with a degree in engineering and information technology, Borissov established a small business with his father, installing computer networks. He then agreed to buy and distribute some electronics machines from a Dutch supplier and when these didn’t appear, simply drove to the Netherlands to find out what had happened.
“Business relied on faxes then and when I couldn’t get any answers, I tracked the guy down to a warehouse filled with gaming machines,” Borissov recalls. “He couldn’t repay my money but offered me some slot/gaming machines instead and I said ‘OK’ even though (laughing) I had no idea what I was going to do with them.”
They then sat in storage until a local café owner suggested installing two on his premises. Customers were soon queuing to play, and neighbouring businesses wanted machines too.
Borissov imported more machines but soon realised that they might all look similar, but players loved some and ignored others. That's when the young entrepreneur realised the cabinet was irrelevant - the software was the key.
Working initially from a modest garage, Borissov began designing and manufacturing his own gaming machines before concentrating even more on the lucrative software development and selling that on to local manufacturers who built finished machines to suit their own markets.
By the late 1990s his company had pioneered multi-game platforms on individual machines too and expanded. He opened offices across Eastern Europe, Latin America and beyond, clocking up air miles and often working out of different cities, while picking up languages - he speaks Russian and English and a smattering of others.
By then he had also learned a key lesson: "Every successful business must expect to reinvent itself, rather than delaying and being crushed by a new development - when technology changes, so do customer expectations.”
So, he injected a lot of time and resources to adapt his company to online gaming ahead of digital platforms becoming mainstream, which led to his greatest challenge yet - operating a luxury entertainment destination.
He was invited initially to simply help create a casino within the Grand Hotel Millennium, but Borissov saw greater possibilities beyond gaming and asked to partner in the project.
His vision was an integrated hospitality destination, appealing equally to international tourists, business travellers and local visitors.
Apart from gaming - the complex has hundreds of slot machines and gaming positions – the Palms Royale Sofia offers private VIP areas, international poker events, multilingual concierge services and luxury accommodation and dining, all designed to encourage guests to see the venue as much more than a casino.
"People remember hospitality - the atmosphere, the service, the experience - and that’s why they come back," says Borissov.
That emphasis shapes everything from staff recruitment to restaurant concepts and customer service.
"Yes, we invest in technology because it improves efficiency and security, but hospitality is about people, and the casino employs 500 members of staff and most speak several languages," he adds.
His wider ambition is equally clear. Borissov believes Sofia is one of Europe's most overlooked capital cities, combining history, culture and excellent value with convenient air links across the continent. He hopes Palms Royale Sofia will become part of a broader effort to attract international visitors and showcase a different side of Bulgaria.
"If people come because of Palms Royale Sofia and leave with a new appreciation of Sofia and Bulgaria, then we've achieved something worthwhile," he says.
He still runs a software engineering business and even a slot machine subsidiary in an empire employing more than 1,000 people. Outside business, Borissov continues to support Bulgarian sport and culture, including the nation’s Olympic athletes and the internationally acclaimed concert pianist Ivan Yanakov.
A lifelong musician himself, Borissov still enjoys the piano and keyboards and played many Beatles and Rolling Stones classics to friends and family at his recent birthday party, where other highlights included a slot machine shaped birthday cake and a staff poker match, to which he donated the £1,000 jackpot.
But it was a rare moment away from work, as Borissov admits that business is his greatest passion after family - he has two daughters Kalina, 23, and Vayana, six, and a son, Jasen 29 who has followed in his father’s footsteps to become a software engineer.
Kalina’s speciality is marketing for the Borissov empire, with the current key project being strengthening ties with the Middle East and the UK.
Her father says: “Of course, Casino de Monte-Carlo and Las Vegas remain as huge attractions in the gaming world, but if you want a more affordable premium experience in Europe it’s in Sofia. People already tie it in with the Bulgarian ski experience – we have some great resorts now.”
Borissov’s skills set - engineer, entrepreneur and musician - perhaps explains why he approaches business differently from any rivals. While many other operators compete on gaming alone, he believes the future lies in creating destinations where luxury hospitality, gastronomy, entertainment and personalised service are every bit as important as the casino floor - at least until he sees a new development disrupting the market.