Illegal German Operator Platincasino Linked to SOFTSWISS Network

Cybersecurity researcher Lilith Wittmann published findings on September 22, 2026, detailing the ownership structure behind Platincasino, described as Germany's largest illegal online casino. The report draws on 3,000 documents extracted from Malta's gambling regulator, the Malta Gaming Authority (MGA), along with records from Curacao's regulator, the Curacao Gaming Authority (CGA), and corporate registry filings.

Brand Held Maltese License Before Losing German Market Access

Platincasino operated under a Maltese license held by Red Rhino Limited from 2017. MGA documents name German businessman Thomas Kalman as the company's ultimate beneficial owner.

The operator failed to secure a German license after the country's Interstate Gambling Treaty (GlüStV) took effect in 2021. Despite this, it continued paying Germany's betting turnover tax, remitting 5.6 million euros for October 2022 alone, according to the documents.

Brand Sold to Curacao Entity Tied to SOFTSWISS Network

In October 2023, Platincasino's player database, brand and domains were sold for 6 million euros to Latiform B.V., a Curacao-registered company with no prior business activity. CGA documents list Tengiz Koranashvili as Latiform's owner, a name the investigation links to five nominee owners of companies within the SOFTSWISS network.

The report notes that Latiform serves only Platincasino, unlike other companies in the network, which work with dozens of brands across various white label partners. Player support for Platincasino is handled by staff at The Multiple Group, whose Facebook page appears to be a renamed profile of Red Rhino's former Maltese entity. Kalman reportedly appears in videos from The Multiple Group's corporate events in 2024 and 2026.

Around the time the brand moved to Curacao, revenue at Kalman's Maltese company YMDM Services rose from 54,000 euros to nearly 34 million euros, while PNH Services grew from zero to 6.7 million euros. Both companies list affiliate marketing and customer support for online casinos as their income sources, per the report.

Prosecutors Estimate Unpaid Tax at 250 Million Euros

The investigation estimates Platincasino's unpaid German tax for 2023 to 2025 at 250 million euros, while prosecutors cite a shortfall of 78 million euros for 2024 alone. On September 8, 2026, Frankfurt prosecutors detained an individual the report's authors believe may be Kalman.

The detention is part of a broader case targeting illegal iGaming operators, in which authorities have seized 82 million euros in assets. Prosecutors estimate the combined betting turnover across sites named in the case at 5.86 billion euros for the period from July 2021 to the end of 2023.

Germany's gambling regulator, the GGL, welcomed the investigation's findings on September 17, 2026, and warned players against using illegal operators, citing Platincasino as an example. Kalman's lawyer has called the allegations baseless.

The report follows earlier findings from the same investigation identifying owners behind 646 Curacao-licensed operators and detailing links between an offshore licensee network and SOFTSWISS.