Corporate Landscape of Rabbit Entertainment and Max Gain Media

Rabbit Entertainment and Max Gain Media are two key entities operating within the highly regulated online gambling industry. These companies play a pivotal role in managing and overseeing various online casino platforms, handling aspects such as licensing, compliance and financial operations.

In examining the broader network of associated casino brands, it becomes evident that Rabbit Entertainment Group and Max Gain Media are part of a larger corporate ecosystem that facilitates the operation and management of multiple online gaming platforms. Among the brands that have, at various points, been linked through licensing, operational, or financial arrangements are:

• Lapalingo – A well-known online casino that has been associated with Rabbit Entertainment IT Limited, which provides licensing and operational support. This structure ensures that revenues and transactions are processed within the broader corporate framework.
• Lord Lucky – Another brand integrated into the Rabbit Entertainment structure, with licensing and operational oversight closely connected to its parent company.
• Tigerspin Casino – Also linked to Rabbit Entertainment, operating under a similar licensing framework. The financial transactions and operational controls appear to be structured in a way that aligns with Rabbit’s corporate network.
• Casumo – While a distinct brand, there have been historical business relationships and platform collaborations with entities linked to Rabbit Entertainment and Max Gain Media. Given Malta’s role as a major hub for online gaming operations, business interests often overlap, creating regulatory and financial intersections between companies.

Corporate Oversight and the Role of Key Stakeholders

At the core of this corporate structure are Paul Kase and Lukas Kurzawa, identified as the ultimate beneficial owners (UBOs) in corporate records. As UBOs, they hold the highest level of control over financial flows, decision-making processes and corporate governance.

Given the ongoing developments in financial transparency and regulatory compliance, corporate structures in the iGaming industry are subject to increasing levels of scrutiny. Regulators and tax authorities worldwide continue to examine cross-border financial flows, corporate ownership transparency and tax compliance obligations.

As international financial enforcement efforts expand, companies and individuals with ownership interests in gaming platforms are expected to align with regulatory best practices. The evolving landscape suggests that increased oversight, compliance measures and reporting requirements will shape the future of corporate governance within the online gambling sector.

Corporate Structure: Rabbit Entertainment and Max Gain Media

Rabbit Entertainment and Max Gain Media operate within a structured corporate framework that governs various aspects of their business and financial activities.

The primary entities within this network include:

• Rabbit Entertainment IT Limited, a company registered in Malta, responsible for operational and licensing functions within the group.
• Rabbit Entertainment Holding Ltd., the parent company, also registered in Malta, overseeing the broader strategic management of the group's business activities.
• Max Gain Media Holding Limited, which serves as the controlling entity and is registered at 170, Pater House, Level 1 (Suite A255), Psaila Street, Birkirkara BKR 9077, Malta.

Corporate Oversight and Financial Control

According to the official 2022 annual report for Rabbit Entertainment IT Limited, Paul Kase and Lukas Kurzawa are identified as the ultimate beneficial owners (UBOs). This designation indicates that they exercise significant control over the financial and operational aspects of the companies.

As UBOs, they are legally entitled to receive financial distributions, including dividends, profits and other revenue streams derived from the companies’ business operations. This information is publicly available and legally documented.

Public Availability of Corporate Records

The image below shows page 21 of the 2022 annual report, which confirms the ownership and governance structure of Rabbit Entertainment IT Limited.

This document is accessible to the public and can be obtained from the Malta Business Registry (MBR) website for a standard fee of €5. Individuals or organizations, including regulatory authorities and tax agencies, have the ability to purchase and review these records in accordance with legal and regulatory transparency requirements.

The accessibility of such corporate filings reflects the broader framework of financial transparency within the European Union, ensuring that ownership structures and business operations remain subject to regulatory oversight and compliance obligations.

Corporate Ownership Transition: Share Transfer to ARX Trustees Limited

The corporate structure of Max Gain Media Holding Limited underwent significant changes in 2019, as reflected in official share transfer records. A review of these records, which were signed by Dr. Luca Zahra, provides insight into how control over the company was structured.

According to the 2019 share transfer documents, Paul Kase (Bingen, Germany) and Lukas Kurzawa (Grundstadt, Germany) were previously the direct shareholders of Max Gain Media Holding Limited. However, in that year, their respective 600 shares each, totaling 1,200 shares, were transferred to ARX Trustees Limited, a company registered at 188, 21st September Avenue, Naxxar, Malta (Company Registration Number C 31448).

Publicly Available Share Transfer Records

The image below shows an official share transfer form, which is publicly accessible through the Malta Business Registry (MBR). This document confirms that prior to the transfer, Paul Kase and Lukas Kurzawa each held 600 shares in Max Gain Media Holding Limited before transferring them to ARX Trustees Limited.

This transfer is consistent with information in the 2022 annual report, which states that ARX Trustees Limited currently holds these shares in trust. Such corporate structuring measures are commonly used within trust and fiduciary arrangements to facilitate the administration of company shares while ensuring compliance with regulatory frameworks.

While the transfer of shares to a trust entity does not inherently indicate an attempt to obscure ownership, it introduces an additional layer of corporate separation, which may affect transparency regarding direct control.

However, under financial and corporate disclosure regulations, ultimate beneficial owners (UBOs) may still retain financial benefits and influence over corporate decisions, depending on the specific terms of the trust arrangement.

Potential Legal and Financial Implications

As regulatory authorities in Germany and across the European Union continue to intensify their efforts against tax non-compliance and undisclosed foreign income, individuals with significant financial interests in international corporate structures, such as Paul Kase and Lukas Kurzawa, may face increased scrutiny.

Should any reporting discrepancies regarding earnings or ownership stakes in Rabbit Entertainment and Max Gain Media emerge, several legal and financial consequences could potentially follow:

1. Tax Compliance Reviews and Investigations Under German tax law, taxpayers are required to disclose all global income, including dividends and distributions from foreign entities. The 2022 Rabbit Entertainment Holding Ltd. financial report records dividends amounting to €2,500,000, which, depending on tax residency and applicable regulations, may be subject to German taxation. Any failure to report such income could prompt tax authorities to examine compliance records and assess whether full disclosure was made in accordance with legal obligations.
2. Assessment of Back Taxes, Interest and Administrative Penalties If a review determines that income from these entities was not properly reported, tax authorities may issue assessments for back taxes, along with interest charges of up to 6% per year on unpaid tax amounts. Additionally, administrative penalties could be levied, the extent of which would depend on the specific circumstances of the case and any applicable tax treaties between Germany and Malta.
3. Potential Legal Consequences in Case of Non-Compliance In cases where intentional non-disclosure of taxable income is established, German tax law provides for strict legal measures, which may include criminal proceedings in cases where the amount of unreported income exceeds €100,000. Under such circumstances, legal action could result in fines or, in more serious cases, custodial sentences in accordance with German statutory provisions on tax violations.
4. Exchange of Financial Information Between Jurisdictions Both Germany and Malta are participants in the Common Reporting Standard (CRS), an international initiative that facilitates the automatic exchange of financial information between tax authorities. Under this framework, financial institutions in Malta are required to report relevant account and transaction data linked to tax residents of other jurisdictions. If such reports include income related to Rabbit Entertainment or Max Gain Media, German authorities may already possess relevant financial data, potentially triggering further inquiries.
5. Regulatory Considerations and Impact on Business Operations Regulatory agencies responsible for gambling and financial oversight across the EU place significant emphasis on tax compliance and transparency. Should any regulatory body conclude that statutory reporting obligations have not been fully met, it could result in increased scrutiny on associated business entities, including a potential review of Rabbit Entertainment’s gaming licenses. This, in turn, could affect business continuity and licensing approvals in certain markets where compliance is a prerequisite for operating online gambling platforms.

Given the evolving international regulatory environment, corporate and individual tax compliance remains a focal point for authorities. The potential legal and financial ramifications of non-disclosure highlight the importance of ensuring transparency in cross-border financial activities, particularly within industries subject to strict regulatory oversight such as online gambling.

Corporate Structures and Financial Transparency: A Changing Landscape

The 2019 share transfer to ARX Trustees Limited appears to be part of a broader corporate structuring strategy. Such arrangements involving trust entities and multi-layered corporate ownership are commonly used in corporate governance and asset management to ensure business continuity and strategic planning. While trust structures can serve legitimate purposes, they can also make it challenging to determine the ultimate beneficial owners (UBOs) of a company.

However, with the growing emphasis on financial transparency, international cooperation and automatic data exchange agreements, the global regulatory environment has evolved significantly. Authorities worldwide now have enhanced capabilities to trace financial flows and ensure compliance with tax and financial reporting obligations.

Increased Regulatory Scrutiny and Compliance Expectations

Over the years, Paul Kase and Lukas Kurzawa have been associated with significant business interests in the online gambling sector, an industry subject to strict regulatory oversight in multiple jurisdictions. As global tax authorities continue to strengthen enforcement efforts, individuals with ownership interests in international business structures may find themselves subject to closer scrutiny.

If any non-disclosure of earnings or corporate ownership is identified, the legal and financial consequences could be considerable. Regulatory bodies are placing greater emphasis on compliance and tax authorities have intensified efforts to ensure that international business structures align with financial reporting requirements.

The Future of Offshore Corporate Structures

With the rise of transparency measures such as the Common Reporting Standard (CRS) and enhanced corporate disclosure regulations, authorities now have access to more tools than ever to examine financial structures and identify potential reporting discrepancies. This shift signals a broader move toward accountability in corporate ownership, making it increasingly difficult to operate without full disclosure.

The key question remains: how will regulatory changes impact individuals with significant interests in international corporate networks? As enforcement mechanisms become more robust, individuals with stake holdings in complex offshore structures may need to adapt to the new era of financial oversight and regulatory compliance.

Final Statement on Attempts to Obtain a Response from Paul Kase and Lukas Kurzawa

For nearly six months, we have made repeated efforts to obtain an official response from Paul Kase and Lukas Kurzawa regarding our investigative articles. Throughout this period, we have reached out multiple times, seeking their input on the matters discussed in our reports.

On February 18, 2025, we once again attempted to engage with them for comment. However, rather than providing any substantive response or addressing the content of our articles, Paul Kase merely forwarded a message originally sent by him on October 17, 2024, which contained a legal threat but no factual rebuttal or clarification.

Since October 2024, we have published several investigative pieces covering topics such as Löwen Play, Lionline and other entities linked to the online gambling industry. At no point have Kase or Kurzawa provided a detailed counterstatement or official clarification regarding our findings.

This response does not engage with the substance of the issues raised in our reporting. We remain committed to accurate, fact-based journalism and continue to invite both Paul Kase and Lukas Kurzawa to provide an official statement addressing the findings presented in our investigations.

Translation of the Message from Paul Kase (Originally Sent on October 17, 2024 and on February 18, 2025)

Mentioning Lukas' and my name in this article violates applicable law and is criminally relevant (potentially defamation, slander, insult and libel), particularly in connection with the multiple misrepresentations in the article you have sent.

The same applies here.

FAQs

What is Rabbit Entertainment?
Rabbit Entertainment is an iGaming company managing online casino brands, handling licensing, compliance, and financial operations.

Who owns Rabbit Entertainment and Max Gain Media?
The ultimate beneficial owners (UBOs) of these companies are Paul Kase and Lukas Kurzawa, as per corporate records.

What role does Max Gain Media play in online gambling?
Max Gain Media oversees financial operations and corporate management within the iGaming industry.

Which casino brands are linked to Rabbit Entertainment?
Brands like Lapalingo, Lord Lucky, and Tigerspin Casino have been associated with Rabbit Entertainment.

Where is Rabbit Entertainment registered?
Rabbit Entertainment IT Limited and its parent company are registered in Malta, a key hub for online gambling.

What are the legal implications of iGaming ownership?
Owners must comply with tax laws, financial reporting, and regulatory requirements in their jurisdictions.

Why was Max Gain Media's ownership transferred to ARX Trustees Limited?
The share transfer to ARX Trustees Limited in 2019 was part of a corporate structuring strategy.

How does financial transparency impact iGaming companies?
Regulators demand transparency in corporate ownership to prevent financial misconduct and ensure compliance.

What are the tax obligations for iGaming business owners?
Owners must report earnings and dividends, as failure to do so can lead to tax investigations and penalties.

Has Rabbit Entertainment responded to regulatory concerns?
Despite repeated inquiries, the company’s key figures have not provided clarifications on compliance issues.