On September 22, cybersecurity expert Lilith Wittmann published a report detailing the ownership structure of Platincasino, which is referred to as Germany's largest illegal online casino. This report is based on 3,000 documents extracted from the internal system of the Maltese regulator MGA, as well as documents from the Curaçao regulator CGA and extracts from trade registers. Here are the key findings highlighted by iGN:
Since 2017, Platincasino operated under a Maltese license held by Red Rhino Limited, with German entrepreneur Thomas Kalman listed as the ultimate beneficiary in MGA documents.
In 2021, following the enactment of the GlüStV gambling law, the operator failed to obtain a German license but continued to pay turnover tax, remitting €5.6 million just for October 2022.
In October 2023, the player database, brand, and domains of Platincasino were sold for €6 million to Latiform B.V., a company registered in Curaçao, which had no prior activity before the deal.
Documents from CGA list Tengiz Koranashvili as the owner of Latiform B.V., who is associated with five nominal owners of companies within the SOFTSWISS network. It is noted that Latiform exclusively services Platincasino, while other companies in the network work with dozens of brands from various white label partners.
Player support for Platincasino is provided by employees of The Multiple Group, and the company's Facebook profile is a renamed profile of the previous Maltese legal entity of the Red Rhino brand. Kalman appears in videos from The Multiple Group's corporate events in 2024 and 2026.
Simultaneously with the brand's transfer to Curaçao, Kalman's Maltese structure saw YMDM Services' revenue grow from €54,000 to nearly €34 million, while PNH Services increased from zero to €6.7 million, with both companies' income sources listed as affiliate marketing and online casino player support.
The unpaid tax in Germany for 2023-2025 is estimated at €250 million, with the prosecutor's office claiming a shortfall of €78 million just for 2024.
On September 8, the Frankfurt prosecutor's office detained an individual believed to be Kalman. The detention was part of an investigation into the organization of illegal iGaming operators, which has seen assets worth €82 million seized. The total turnover of bets on the sites involved in the case is estimated at €5.86 billion from July 2021 to the end of 2023.
On September 17, the German gambling regulator GGL positively assessed the investigation's results and warned players against playing with illegal operators, citing Platincasino as an example and indirectly indicating a connection to the brand.
Kalman's lawyer called the accusations baseless.
Previously, materials related to this investigation were released regarding the owners of 646 licensed operators in Curaçao and the connections of offshore licensees with SOFTSWISS.
SOFTSWISS has previously commented on the investigation, disagreeing with several of its claims and interpretations.