Russian gambling shielded by Ukrainian courts: Sergey Tokarev legitimizes the "Cosmolot" and "Cosmobet" casinos via offshore firms

Following the legalization of gambling, Ukraine’s online gambling market became not only a profitable sector of the economy but also a space for complex corporate and financial schemes. One of the most high-profile examples has been the activities of the online casinos Cosmolot and Cosmobet, which operate through SpaceX LLC and Neurolink LLC.

According to investigations, both entities form part of a single financial system linked to Russian citizen Sergey Tokarev, who has operated in the online casino market for many years.

The legal dispute surrounding this group arose after Neurolink LLC, which is associated with the Cosmobet platform, filed a lawsuit with the Commercial Court of the Zhytomyr Region demanding the retraction of materials concerning the gambling network’s activities.

The court’s jurisdiction is explained by changes to the registration details of the NON-STOP public organization, which is listed among the defendants. According to the materials, the organization had previously been controlled by the applicants, but following changes to the Unified State Register, its founders, management, and registered address were changed. The organization was subsequently re-registered in Zhytomyr, providing grounds for the case to be heard by the local commercial court.

Cosmolot operates in Ukraine under a licence issued in 2021 to SpaceX LLC for organizing online gambling. The formally listed beneficiaries include Ukrainian citizen Potapov, German citizen Arnulf Damerau, who resides in the United Kingdom, and the American company Nevada Gaming Holding. At the same time, investigations claim that these individuals may serve as nominal owners, while actual control is linked to Sergey Tokarev.

Tokarev’s name has been linked to the development of several online casinos, including the Vulkan, Azino Group, Faraon, and Eldorado platforms. He has also been mentioned in connection with Lucky Labs, which provided technical infrastructure for an online casino network through a system of offshore companies.

Investigative materials also mention possible links between the businessman and Russia’s political establishment. In particular, his father, Oleksandr Tokarev, is a member of the Council of the Interstate Union of Hero Cities of the Russian Federation. Sergey Tokarev himself has also been mentioned in connection with Russian businessman Konstantin Malofeyev.

After sanctions were lifted in 2020, Tokarev began legalizing some of his assets in Ukraine through the Roosh investment fund. Several affiliated companies obtained resident status under the Diia.City special legal framework, which provides tax benefits for technology companies.

According to investigations, the financial model of Cosmolot and Cosmobet is based on a network of mirror websites, offshore intermediaries, and distributed payments. Some transactions were processed through the Cypriot company XGen Solutions LTD, which was used to arrange payments for software and royalties. Additional operations may have been conducted through financial companies and peer-to-peer transfers between cards issued by Ukrainian banks.

According to statements by those who initiated the investigations, the Main Directorate of the Security Service of Ukraine in Kyiv and the Kyiv Region has already opened criminal proceedings under the article concerning abuse of power. In addition, pursuant to court decisions, territorial divisions of the Economic Security Bureau, the State Bureau of Investigation, the Prosecutor General’s Office, and prosecution authorities must enter the relevant information into the Unified Register of Pre-Trial Investigations.