WILLEMSTAD – A major investigation by Dutch investigative journalism platform Follow the Money (FTM) has revealed how Curaçao became a crucial base for an online gambling empire that generated hundreds of millions of euros in profits in Brazil, raising serious questions about the island's gambling licensing system and its ability to scrutinize the individuals behind international casino operations.
The investigation, published Wednesday, October 14, identifies Dutch businessman Nick van Gorsel and his American business partner Nicholas Beugg as the individuals behind Blaze, one of Brazil's most controversial online gambling platforms.
According to Follow the Money, confidential documents obtained from the Curaçao Gaming Authority (CGA) reveal how the two businessmen used companies registered on the island to establish and expand their gambling operations in the Brazilian market.
The findings form part of the Casino Secrets investigation, an international journalistic project based on tens of thousands of documents obtained by German hacker Lilith Wittmann from Curaçao's gambling regulator. The investigation involves Follow the Money and European media organizations including Norway's NRK, Germany's NDR, Austria's Jetzt.at and Sweden's SVT.
The documents provide an unusually detailed picture of the ownership structures, financial activities and licensing procedures of gambling companies operating through Curaçao.
One of the most striking revelations concerns the enormous profits generated by Blaze.
Financial records examined by Follow the Money indicate that the platform earned hundreds of millions of euros in profits during 2022 and 2023. In 2023, the casino's digital wallets reportedly contained nearly €860 million in cryptocurrency.
Van Gorsel, who was born in Bergen op Zoom in the Netherlands in 1996, reported an annual income of €50 million to Curaçao's gambling regulator in 2024.
Documents submitted as part of the licensing process also indicate that he estimated his personal wealth at approximately €400 million in 2023. A subsequent disclosure in 2024 reportedly placed his wealth at twice that amount.
These figures are based on financial records and personal declarations examined by Follow the Money and do not constitute independently audited estimates of his current wealth.
The investigation describes how Van Gorsel moved from establishing small software businesses in the Netherlands to becoming a major figure in Brazil's rapidly expanding online gambling industry.
Blaze began operations in 2018 and subsequently built a substantial Brazilian customer base through aggressive digital marketing campaigns.
Among the platform's most prominent promotional partners was Brazilian football superstar Neymar Jr., whose enormous social media following helped introduce the gambling brand to millions of potential customers.
However, the company's commercial success has been accompanied by mounting controversy.
Thousands of Brazilian consumers have complained about Blaze, including allegations that the platform failed to pay out winnings or return account balances.
Follow the Money reports that Brazilian consumer complaint platform Reclame Aqui had registered more than 43,000 complaints concerning the company by October 2026.
The Organized Crime and Corruption Reporting Project previously reported at least 15 lawsuits involving Blaze across eight Brazilian states.
Blaze has denied wrongdoing and previously characterized accusations circulating on social media as speculation.
The controversy has also attracted the attention of Brazilian prosecutors.
According to Follow the Money, prosecutors demanded approximately 380 million Brazilian reais, equivalent to about €65 million, in compensation for allegedly affected gamblers in July.
They also sought an additional approximately €20 million from Blaze and Brazilian influencer Virginia Fonseca over allegations involving gambling promotions during the 2026 FIFA World Cup.
Prosecutors allege that the promotional activities targeted underage audiences and failed to adequately disclose commercial relationships.
These are allegations being pursued by Brazilian authorities, not findings of criminal guilt.
The Curaçao connection is particularly significant because Blaze previously operated under a gambling license issued through the island's regulatory system.
In 2023, then-Minister of Finance Javier Silvania publicly announced that authorities would examine allegations surrounding the platform and take appropriate measures if necessary.
However, Follow the Money reports that no public findings from that investigation subsequently emerged.
Despite the controversy, Blaze successfully completed Curaçao's revised gambling licensing procedure following the introduction of stricter legislation in 2024.
The investigation raises questions about whether the licensing process adequately examined the company's ownership, financial activities and international reputation.
Blaze operates through Prolific Trade NV, a Curaçao-registered company represented locally by trust services provider Emoore.
Follow the Money found that Emoore was one of the largest service providers to Curaçao's online gambling industry, representing at least 65 licensed gambling businesses by the end of 2025.
Trust offices play a central role in the sector by establishing and administering local companies, handling regulatory applications and supporting financial arrangements for foreign operators.
The revelations come at a particularly sensitive moment for the international gambling industry.
Brazilian President Luiz Inácio Lula da Silva has announced sweeping restrictions on online gambling, citing concerns about addiction, household debt and the economic consequences for vulnerable families.
According to the investigation, the Brazilian central bank estimates that residents spend approximately $5 billion per month on gambling platforms.
The measures have triggered resistance from gambling operators and prominent social media personalities whose commercial activities depend on the industry.
For Curaçao, the findings place renewed attention on the effectiveness of gambling supervision and the country's international reputation as a licensing jurisdiction.
Although online gambling generates business activity through locally registered companies and service providers, the investigation raises a broader question about whether Curaçao's regulatory framework has been sufficiently effective in identifying and addressing risks associated with operators targeting foreign markets.
Follow the Money contacted Van Gorsel, Beugg's representatives, Emoore and Blaze for comment.
Emoore declined to confirm or deny information about its clients, citing confidentiality obligations. A Blaze spokesperson in Brazil declined to comment on ownership and corporate structures.
Van Gorsel also declined to answer the investigators' questions.
The revelations are part of Follow the Money's continuing Casino Secrets investigation into the international gambling industry and the role of Curaçao in facilitating its operations.