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About Plunder Ahoy
In April, under pressure from Brazil’s President Luiz Inácio Lula da Silva, Caixa postponed its launch until 2027 at the earliest.
Brazil is currently gearing up for a general election next month and Weizer said this had delayed Playtech’s launch in the regulated market, although he didn’t specifically name Caixa as its client.
“I’ll be very, very open and straightforward about it,” Weizer told analysts on Playtech’s post-Q2 earnings call. “There were certain concerns that because it is an election year, and obviously, gaming is a political issue or there were references by politicians throughout the elections about gambling.
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The report also cites brands targeting a specifically banned vertical or product within a jurisdiction as driving black market activity. While markets across Europe have many examples, one such flagged in the report is that iGaming remains illegal for licensed operators in France.
“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”
Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.
What is Plunder Ahoy?
Veikkaus stated that Fennica now operates in 21 markets across three continents and gaming verticals. Fennica secured an UAE online supplier licence last year.
Industry consultant Jari Vähänen, formerly a senior executive at Veikkaus, estimated the entire business could be valued at up to €4.5 billion following the liberalisation of the market.
Veikkaus is adjusting to a partial liberalisation of Finland’s gambling market under the new Gambling Act, which was ratified in January 2026.
