When Mario Gennaro was accused by the Italian authorities of being a laundromat for the Calabrian Mafia, the Maltese authorities were slow to respond to the investigations by the Italian authorities. Mario Gennaro was accused of using Malta as a money-laundering base for the Mafia through a wide network of gambling companies and websites many of which were shut down.
The Maltese authorities extradited Mario Gennaro but journalists had pointed out that Gennaro’s gambling empire was still in operation. Back when Mario Gennaro was arrested the Labour Party raised a scandal on the fact that GVM Holdings, which had a part-shareholding and directorship by David Gonzi (Lawrence Gonzi’s son), was providing fiduciary services to Mario Gennaro’s gambling company in Malta, Uniq Group. The local authorities didn’t follow up but the Italian authorities
Thanks to a dossier obtained exclusively by The Maltese Herald , we can confirm that Mario Gennaro’s gambling empire was never completely shut down and has sprawled again ever since Italian authorities seized many of his assets. Mario Gennaro cooperated with the Italian authorities and his court cases are still ongoing.
Mario Gennaro’s gambling empire is now run from Spain, more specifically, from Barcelona and the Valencia region through a company called Limitless Lab SL. The company is one of the many companies running the brand PlayLogicIQ which is also known for Uniq Bet and Bet Uniq which originally operated from Malta. Margherita Simona Giudetti, who was previously extradited from Malta to Italy, is one of the individuals currently running PlayLogicIq through Limitless Labs in Spain.
The previous companies that were held by Mario Gennaro and his associates in Malta were never officially closed down and although at face value they don’t seem to be doing any economic activity, they are still officially active. These include Unique Ltd and Start Games Ltd.
After having moved to Spain, Mario Gennaro has rebuilt a sprawling gambling empire raking in at least up to €1 – 2 million in revenues per month at low conservative estimates, with his operations being extended to multiple non-European countries.
One market that Mario Gennaro’s and his affiliated companies are targeting is Africa, and PlaylogicIQ has established itself in Ethiopia with a company called Best Bet PLC. In Ethiopia, they are also running Chatki.bet and Konjo.bet. However, Africa is not only their new market. They are also trying to capture clients from South America especially Chile. Other websites they are running are vamosbet.net/bet and also tantibet.com and 2xsport.com.
Some of their gambling services can be accessed and paid for with crypto-currencies and the The Maltese Herald has also acquired several blockchain addresses which are used by the sprawling network. Mario Gennaro’s sprawling gimbling network is using various blockchains but The Maltese Herald has understood that they are cashing out their money through the Tron Network, using mainly USDC and Tether as their exit vehicles and cashing out through exchanges such as Binance and KuCoin.
The gambling network of Mario Gennaro is very active and also growing despite the efforts by the Italian authorities to clamp down on it.
This is a developing story.
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