Softswiss Says It Runs No Casinos After Leak Reporting Ties It to 1,000 Curaçao Sites

Softswiss, the software group whose platform sits behind many crypto casinos, says it doesn’t operate a single one. Reporters working from files taken from the Curaçao Gaming Authority (CGA) say they identified more than 1,000 online casinos that probably belong to a network of companies around the group.

The finding comes from STRG_F, an investigative team at German broadcaster NDR, which worked through the files with researcher Lilith Wittmann, Follow the Money, NRK and SVT. The files come from the break-in the CGA confirmed on September 17. NDR’s published source document quotes a lawyer’s letter dated September 9 giving the company’s side.

The investigation asserts that over 1,000 active iGaming domains share structural, financial, and technical footprints connected to a network of corporate entities surrounding the platform provider, generating an estimated €2 billion in annual gross revenue across key offshore jurisdictions.

Softswiss Calls Itself a Supplier

In formal legal correspondence issued on behalf of founder Ivan Montik and brand holder Stable Software Solutions, legal representatives asserted that Softswiss operates exclusively as a technology vendor. The company argued that supplying core software, gaming aggregation APIs, or server infrastructure to independent third-party entities does not establish operational control or equity ownership over those customer brands.

Under standard white-label and turnkey iGaming agreements, platform vendors provide turnkey software packages, user interfaces, and payment gateway infrastructure. However, the legal responsibility for player onboarding, Customer Due Diligence (CDD), local regulatory licensing, and jurisdictional tax compliance rests contractually with the consumer-facing operating entity holding the gambling license.

Supplying software or infrastructure to independent companies creates neither ownership nor control of their business, the letter argued, any more than selling Microsoft Office or Apple products gives the supplier control over what users do with them. Getting the right license is the customer’s job alone.

The regulator rejected the reporters’ framing too. The CGA told NDR it keeps no classification matching a “SoftSwiss network” and couldn’t confirm that about 1,000 registered domains belong to one “which has been fabricated by you.” Using a shared technology platform, it added, “is commonplace across the online gambling industry.”

One Platform Behind 1,500 Brands

Softswiss’s own numbers show how common. The company says more than 1,500 brands use its software, and its crypto casino package launched in 2013. Its explainer on white-label casinos says an operator “essentially rents a space under that umbrella,” using the provider’s license and platform without holding a license of its own.

Wittmann describes the same setup. The license holder’s name is on the site and takes the deposits, she writes, while the customer mainly handles marketing for a share of revenue.

Montik Owned Dama Until 2021

Much of the reporting turns on Dama N.V., the biggest earner among the Curaçao companies on Wittmann’s figures. Montik’s lawyer confirmed he once held 100% of Dama and of Topchik N.V., but said he had no part in running them and that his interest was limited to supplying them with software.

Dama passed to a Georgian woman on July 1, 2021, the day Germany’s new gambling treaty took effect. NDR’s reporters found no sign she had ever worked in the industry.

The regulator’s own assessors had doubts. In an internal memo on Dama’s 2024 license application, quoted by NDR, compliance staff wrote: “We suspect Softswiss enjoys most of the profit.” The CGA told NDR that a comment recorded during an assessment “does not necessarily represent the assessor’s final view.”

Where the €2 Billion Goes

Wittmann puts 2025 revenue across nine licensed Curaçao companies at about €2 billion, €1.75 billion of it from player losses. The seven sets of accounts she analyzed show about €106 million in software costs, or roughly 5.1% of revenue. She alleges the owners on paper are stand-ins for the group. Softswiss denies being behind the companies.

A German Tax Fight Over Platincasino

The German strand runs through Platincasino, whose own website says it is owned and operated by Latiform B.V. Softswiss told NDR the two are independent companies. It may have supplied software components or access to game providers, the letter said, but it wasn’t involved in running Platincasino and isn’t responsible for its taxes.

Frankfurt prosecutors said on September 9 that officers had searched 11 properties and arrested one main suspect, Hessischer Rundfunk reported. They allege about €5.86 billion was staked on unlicensed sites between July 2021 and the end of 2023, and put the alleged tax loss for 2024 at €77.6 million. Germany’s gambling regulator welcomed the case in a statement warning players off illegal sites such as Platincasino. Wittmann estimates about €250 million in German gambling tax went unpaid for the brand from 2023 to 2025.

The companies identified have paid several hundred million euros to the German tax office since the country began taxing online Slots, Montik’s lawyer wrote, under protest that the tax is unlawful. A Curaçao license, the CGA told NDR, “does not authorize an operator to conduct activities in Germany.”

Five Indefinite Licenses, One Date

The CGA’s public license register dated September 21 lists Dama, Hollycorn N.V., Just Entertainment B.V. and Latiform with consumer-facing licenses, and Topchik with a supplier license. All five are marked “Indefinite,” all issued on December 24, 2025. The CGA told NDR that provisional status doesn’t become indefinite unless it is “fully satisfied with the applicant.”

Wittmann, who took the files, says Malta’s regulator is suing her over her reporting. The assessors who suspected Softswiss took most of Dama’s profit wrote that in 2024. Dama’s entry on the register now reads “Indefinite,” with no expiry date.