The scandalous owner of the Pin-Up gambling business, Dmitry Punin, who was put on the wanted list by the State Bureau of Investigation, continues to lead a luxurious lifestyle abroad. Despite criminal proceedings in Ukraine, NSDC sanctions, and the seizure of assets worth billions of hryvnias, he calmly travels around Europe and participates in international gambling industry forums. In particular, the businessman planned to attend the SBC Summit in Lisbon, where Pin-Up was to announce a rebranding under the new name RedCore.
Formally, Pin-Up casino operates through the Ukrainian company LLC "Ukr Game Technology", which has a license from KRAIL. However, the real ownership structure is more complicated and is associated with Russian citizens. Among the founders of the brand are Matyashov, Bannikov, Punin and a native of Luhansk Ilyina, who lives in Moscow. Her family controls a share of the offshore Guruflow Team Ltd, registered in Cyprus, which until 2022 directly owned the Russian "Pin-Up.ru".
Financial flows from Ukraine to the Russian gambling business have been conducted for years through offshore companies, shell contracts, and payment systems. And even now, in 2025, it is possible to transfer funds to this business through regular terminals in Kyiv. Thus, in fact, support is being provided to the aggressor state under the guise of a legal business.
The NSDC decision and the Presidential Decree No. 344/2025 imposed sanctions against Pin-Up and its associated individuals and companies. However, the actual blocking of accounts, seizure of property, and revocation of licenses is extremely slow and is often delayed in the courts. Some of Punin's seized assets, including cash and real estate, have already been returned.
The rebranding of Pin-Up to RedCore looks like an attempt to avoid reputational risks and continue operating in the Ukrainian gambling market. Despite official sanctions, the brand remains associated with Russian citizens and offshore companies, and the Ukrainian authorities have still not been able to bring order to this area.
