What does the Casino Secrets / Curaçao Files reporting actually allege?
The published reporting makes four main types of claim: aggregate financial figures for a publisher-defined group of licensed companies, a modelled German tax figure for one operator, country-level footprint estimates, and links between brands and pending official proceedings. All of the financial aggregates are publisher assertions, which the project says draw on material from CGA systems, not audited accounts.
For the SOFTSWISS-associated company grouping (as reported), the investigation’s own article publishes aggregate revenue of EUR 1,982,616,826 for 2024 and EUR 2,061,727,065 for 2025, aggregate GGR of EUR 1,642,293,367 for 2024 and EUR 1,753,480,311 for 2025, an aggregate net result of −EUR 180,755,411 for 2025 and an operator-payment line of EUR 365,075,547 for 2025 (Casino Secrets: SOFTSWISS). Our own arithmetic on those two revenue figures gives growth of 3.99% from 2024 to 2025, which says nothing about any single country. Our cross-check also found the scope unclear: the article refers to nine licensed companies while displaying seven company revenue figures, and geography and consolidation are not established. In the published responses, SOFTSWISS denies operating end-user casinos and says shared software does not establish ownership or control, and the CGA says it has no regulatory “SoftSwiss network” classification because shared technology does not make entities one network (NDR published research notes and responses). The same response document states that the identified companies paid several hundred million euros of German gambling taxes under protest; that figure is not independently verified. More detail is on our page on SOFTSWISS-linked companies in the Curaçao files.
Platincasino is the most quantified brand-specific case in the reviewed sources. The investigation publishes GGR for Latiform B.V. of EUR 121,000,869 (2024) and EUR 115,147,655 (2025), plus modelled German gambling tax of EUR 14,987,401.59 (2023), EUR 109,021,782.97 (2024) and EUR 103,748,037.16 (2025) on an assumed 85% German share (Casino Secrets: Platincasino). Our arithmetic on those three published estimates totals EUR 227,757,221.72, which is EUR 22,242,778.28 below the article’s narrative figure of approximately EUR 250m; that discrepancy is unresolved. Separately, German authorities describe stakes of EUR 5,860,000,000 between July 2021 and December 2023 in a criminal case (GGL on German enforcement operation), with EUR 82,000,000 in assets reportedly secured and 11 properties searched on 8 September 2026 and alleged unpaid tax of EUR 77,600,000 for 2024 (tagesschau). Reporting links that case to Platincasino and states that the defence rejects the allegations and that no charge had been filed as at 24 September 2026 (Amphora Media). See Platincasino’s operator and the German criminal case.
In Brazil, Folha reports player deposits of R$11bn, gross revenue of R$1.9bn, net revenue of R$1.1bn, net profit of R$361m, advertising spend of R$330m and dividends of R$350m for Foggo Entertainment LTDA over January to November 2025 (Folha). The prosecutor’s office announced a partial advertising injunction on 21 July 2026 and requested collective damages of R$380m on 23 July 2026 (MPDFT). Blaze’s published response says its influencer partnerships comply with national rules and declines comment on commercial financial and contract matters.
For the United Kingdom, Investigate Europe reports a Santeda-linked group of at least eight websites with an estimated 2.3 million unique monthly visitors between November 2025 and January 2026, citing Similarweb; Upgaming denies ownership, operation and wrongdoing and says a B2B relationship ended on 30 March 2026 (Investigate Europe). For Germany, NDR’s notes describe at least 388 sites said to target German players. The CGA, for its part, acknowledged unauthorised access to its online gaming portal on 22 September 2026 and said the extent and number of files was not established (CGA follow-up statement).
Claim versus evidence: what is confirmed, reported or disputed
| Claim | Who says it | Evidence type | Status |
|---|
| Unauthorised access to the CGA online gaming portal occurred; extent not established | Curaçao Gaming Authority (CGA), 22 September 2026 | Official record | Confirmed record (extent unresolved) |
| Over 40,000 and, elsewhere on the same homepage, 84,000+ documents and 2TB+ of data | Casino Secrets / Curaçao Files investigation homepage | Published reporting (project statement) | Unresolved; two totals coexist on our check |
| Aggregate 2025 revenue of EUR 2,061,727,065 for a grouping of licensed companies | Casino Secrets: SOFTSWISS article | Published reporting | Disputed by SOFTSWISS and the CGA as a “network” attribution |
| Modelled German tax of approximately EUR 250m for Latiform B.V., 2023–2025 | Casino Secrets: Platincasino article | Published reporting (estimate) | Disputed; does not reconcile with the article’s own annual table (our arithmetic) |
| Stakes of EUR 5.86bn and EUR 82m assets secured in a German criminal case | GGL; tagesschau; Amphora Media links the case to Platincasino | Official record plus published reporting | Investigation stage; no conviction, defence rejects allegations |
| Damages of R$380m requested from Foggo Entertainment LTDA | MPDFT, 23 July 2026 | Official record | Requested, not decided |
| Estimated 2.3m monthly UK visitors across at least eight Santeda-linked sites | Investigate Europe | Published reporting (estimate) | Reported; Upgaming denies ownership and operation |
| KSA fine of EUR 12,640,000 on N1 Interactive Limited | Kansspelautoriteit, decision 20 December 2022, published 3 March 2023 | Official record | Confirmed record; predates the 2026 publication |
| Curaçao licence OGL/2023/118/0060 held by Small House B.V. revoked on 6 December 2024 | CGA enforcement register dated 14 September 2026 | Official record | Confirmed record |
What the Curaçao casino leak does not prove
Documented footprint is not proven financial damage. None of the reviewed sources establishes a revenue loss or a fine caused by the September 2026 publication, and almost every enforcement action described here — the Swedish prohibition of 11 June 2024, the Dutch order of 17 October 2024, the Dutch fine decided in December 2022, the Curaçao revocation of 6 December 2024, the Brazilian injunction of July 2026 and the German searches of 8 September 2026 — predates it. The facts reviewed do not establish that any of those actions was triggered by the leak.
Procedural wording matters. A search, a seizure, a conditional penalty ceiling, a requested damages amount and a modelled tax estimate are each different from a final penalty or a conviction. A revoked or expired Curaçao licence also does not show that a brand is unlicensed everywhere, and a Curaçao licence never authorised service to customers in another country.
Is every “Curaçao leak” story the same incident?
Searches for “Curaçao leak” can also surface reports about other, earlier data incidents in the gambling sector. This site covers only the Casino Secrets / Curaçao Files reporting published from September 2026 and the official records that can be checked against it; we do not describe those other incidents.
Litigation over the use of the leaked data
Trade reporting describes an interim German court ruling in litigation involving the Malta Gaming Authority over use of the leaked material (casinos.org). We have not independently reviewed the full court order, and nothing in the reviewed sources supports a conclusion that leaked documents may be freely republished. Consistent with our own policy, this site does not host, quote at length or link to leaked documents.
What is still unresolved
- The verified total number of documents taken from CGA systems: the project’s homepage shows both “over 40,000” and “84,000+”, and the CGA says the extent was not established.
- Who currently operates MyStake and BC.Game. The Swedish 2024 decision names MyStake under Santeda International B.V., but the Santeda certificate we checked on 29 September 2026 lists 13 domains and omits mystake.com; see MyStake, Velobet and Goldenbet and BC.Game’s licence history.
- Whether the publisher’s SOFTSWISS-associated grouping reflects common ownership; both SOFTSWISS and the CGA dispute that framing.
- The final court status of Brazil’s provisional measure 1.394/2026, with challenges reported pending as at 28 September 2026, and of the German criminal case.
- Two CGA displays that differ: the Medium Rare N.V. and Santeda International B.V. certificates showed “Active” while the register dated 21 September 2026 showed “Assessment in progress”. That conflict needs regulator clarification and is not resolved here.
Why these records matter
For readers in the UK checking a casino, the practical point is that a brand’s own licence page and a regulator’s dated record are two different observations, and only one of them is official. Where a Great Britain exit was announced — as the Gambling Commission described for stake.uk.com, whose white-label operator TGP Europe Limited planned closure on 11 March 2025 — that is a matter of official record rather than interpretation. Anyone worried about their own or someone else’s gambling can contact a gambling support service in their country.
For industry and compliance readers, the value is in the mismatches: register status versus certificate status, historical domain lists versus current ones, and publisher aggregates versus audited accounts. Domain counts (362 on the Just Entertainment B.V. certificate, 20 on the N1 Interactive Limited seal) include mirrors and are not brand or licence counts.
For regulators and journalists, the open items are specific and checkable: the unexplained document totals, the two differing CGA status displays, the unreconciled Platincasino tax figures, and the appearance of blaze.bet.br in both a Curaçao certificate and the Brazilian authorisation list, which may reflect jurisdictional or stale records rather than misconduct.
How to check a licence or enforcement record yourself
- Open the CGA online gaming licence register dated 21 September 2026 and find the licence number and register status, noting the row and page.
- Open the matching CGA certificate — for example Medium Rare N.V. or Santeda International B.V. — and record the certificate status and the approved domains separately from the register entry.
- Check the CGA enforcement register dated 14 September 2026 for revocations, such as OGL/2023/118/0060 held by Small House B.V.
- For Malta, use MGA licence verification and read each licence separately; N1 Interactive Limited showed B2C “Licensed” and B2B “Surrendered” on 29 September 2026, as covered on N1 Casino and Bobcasino.
- For national enforcement, consult the Kansspelautoriteit pages on N1 Interactive Limited and BlockDance B.V., and the Spelinspektionen prohibition of Santeda International B.V..
- For Brazil, read the SPA list of authorisations granted before MP 1.394/2026 together with provisional measure 1.394/2026, which sets 10 days for website disablement and 30 days for authorisations to lapse after publication.
Our step-by-step method, including why the register and the certificate can disagree, is set out on the Curaçao licence check page. Gambling is for adults of legal age in the reader’s country.
