FinTelegram continue to pursue the individuals and entities behind the insolvent online casino operator Rabidi. The bankruptcy of Rabidi was precipitated by a player who filed a petition after not receiving his winnings, leading to the revocation of their license by the Curaçao Gaming Authority. Despite the insolvency, the casinos have persisted, now operating anonymously and illegally, with all traces leading to Cyprus and the ButOn ecosystem.
Latest Developments
Whistleblower Insights
Recent whistleblower reports have provided us with critical documents from Tilaros Limited, one of Rabidi Casinos’ Cypriot payment agents. These documents have allowed us to trace the flow of money and uncover key connections:
- Crypto Connections: Tilaros received funds from the Estonian crypto payment processor BitSpider, indicating an existing or former crypto account with BitSpider.
- Large Transactions: Millions in receipts from Estolio Limited, which holds an Estonian license to operate former Rabidi Casinos. These casinos are now operating under Estonian top-level domains (.ee), except for Posido, which uses www.posido.com.
- Bank Accounts:
- Inpay Account: Tilaros holds an account with the Danish e-money institution Inpay, with repeated transfers marked “Top Up Inpay account ….”.
- My EU Pay Account: Tilaros also has an account with My EU Pay (MyEUpay.com), a UK FCA-regulated payment institution.
Central Figures and Entities
At the core of these operations is Estolia Limited, registered in Cyprus and trading as ButOn (Buton.com). Denys Butko, a Ukrainian national and Cyprus resident, is presumed to be the beneficial owner. His LinkedIn profile indicates he served as CEO of ButOn until March 2023. Currently, Butko is active in the real estate sector through his Cyprus-registered company, Landrino Limited (screenshot left).
In July 2022, ButOn announced it had acquired online casino licenses via Estolia Limited, marking its second license after the one in Curaçao. This strongly links Estolia to the Rabidi Group and Denys Butko. It is only reasonable to suggest that Estolia Limited in Cyprus was the holding company behind the offshore entity Rabidi. Additionally, the companies Estolia Limited, Tilaros Limited, and Tranello Limited, share the same address in Nicosia, Cyprus.
In July 2023, ButOn further expanded by announcing the launch of the MyEmpire casino, adding to the network of former Rabidi casinos now operating under different guises. It was the last ButOn announcement.
Rabidi Key Data
| Trading names | Rabidi |
| Business activity | Online casino and gambling operators |
| Status | Bankrupt |
| Domains | https://rabidinv.com (offline) https://interpavaltd.com (offline) |
| Legal entities | Rabidi N.V. (bankrupt legacy operator) Valia Nominees Limited Interpava Limited Allyant Group B.V. (company formation) Tilaros Limited (payment agent and brand owner) Tranello Limited (payment agent) Sentoka Limited (MateAffiliates) Adonio N.V. (Curacao) Starkeast Management N.V. (Curacao) Wyze Management N.V. (Curacao) |
| Related entities | ButOn (www.buton.com) Estolio Limited Landrino Limited |
| Jurisdictions | Curacao, Cyprus |
| Authorization | |
| Payment facilitators | My EU Pay, BitSpider, InPay |
| Related individuals | Denys Butko (Ultimate Beneficial Owner) – LinkedIn Hanna Chuprys Iryna Liubochko Olga Musina Natalia Tsiourkina |
| Related brands | GREATwin, Casinoly, Boomerang Casino FEZbet, FunID, Wazamba SlotsPalace, PlayZilla, Sportaza ExciteWin, OhMySpins, 5Gringos 7Signs, PowBet, House of Spades LuckyElektra, Neon54, Dolly Casino ZetCasino, Nomini, |
Investigation and Call for Information
Authorities are currently investigating the financial activities of Tilaros, Tranello, Estolia, and the Rabidi Group. Due to the complex and potentially illegal nature of these operations, any information related to these companies is of paramount importance. If you have pertinent information, please share it through our whistleblower platform, Whistle42.
