Intending to optimize the giant magnetocaloric properties of HoB$_{2}$, we synthesized and magnetocalorically characterized Ho$_{1-x}$Gd$_{x}$B$_{2}$(0.1 $leq$ x $leq$ 0.4) alloys. We found out that Gd enters stoichiometrically and randomly into the Ho site, leading to a Vegard-type structural change. The addition of spherical S$^{7/2}$ Gd$^{3+}$ moments prompts an enhancement in Curie temperature, a reduction in peak value of the magnetic entropy change while still being relatively high, and a broadening of the magnetic entropy change curves. The overall influence is a relatively high refrigerant capacity and relative cooling power, and an extension of the thermal working range to higher temperatures; thus, electing Ho$_{1-x}$Gd$_{x}$B$_{2}$(as potential candidates for cryogenic refrigeration applications.
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