What’s going on at Lynon?
Lynon appeared to be everywhere in 2025, with advertising all over the industry media and a sizeable presence at industry events. Then doubts began to emerge about the reliability of the company.
Lynon’s trade show appearances in 2025 included shows in Barcelona, Lisbon, London, Rome, Malta and Sao Paolo.
The company also conducted extensive marketing during the year across gaming industry publications, including on these pages, although we removed their sponsored editorials after doubts emerged about the reliability of the company.
This led us to investigate Lynon to see what we could learn.
So, what’s going on at Lynon?
To begin with, Lynon isn’t actually a company, although this would not be obvious from their marketing or corporate website.
Lynon is a brand name used to promote iGaming solutions, including online casino websites for just €5,000.
They also offer an online casino solution for the Telegram messaging app which boasts anonymous crypto deposits and withdrawals. Lynon also provides sportsbook integration, game aggregation and affiliate services.
The company behind Lynon was at first Softland DS, a company based in Yerevan, Armenia. After running up significant debts with suppliers, Lynon “transitioned” to another company in late 2025 called Enigma Projects, but the company’s staff has remained the same. Tigran Ayvazyan continues to serve as managing partner of Lynon, as he has done since its inception in 2023.
Ayvazyan is the founder and former chief executive officer of Live Vegas, an Armenian live casino studio that provides games to BetConstruct and Softswiss.
In an interview with Gaming Intelligence at which his lawyer was also present, Ayvazyan sought to distance the new Lynon company from the old.
Speaking through his lawyer Edgar Jraghatspanyan, who served as translator, Ayvazyan confirmed that Softland developed and marketed the Lynon software. He also confirmed that Softland employed Lynon’s staff, but claimed to be otherwise oblivious to their business practices.
“The Lynon brand does not belong to Softland and it never did,” says Jraghatspanyan. “There is another company, Engima Projects, who owns the Lynon brand.
“They [Softland] do recruitment, development and other things but they messed up all the fields and now the company has a problem with all fields – the development, recruitment and in the marketing.”
He suggests that it was these problems that led to the transfer of Lynon to another company.
Jraghatspanyan says that Lynon’s investors put a lot of money into Softland which the company appears to have pocketed.
Ayvazyan then interjects to stress that Softland “does not have any connection with Lynon”.
Jraghatspanyan clarifies his statement: “As I said before, the Lynon brand does not have any connection with Softland, legally.”
When pushed on the dubious transfer of operations from one company to another and the clear connection between Lynon and Softland, Jraghatspanyan says that this is something we would have to try and prove from a legal perspective.
Who are Lynon’s customers?
During our investigation, we were unable to identify any licensed operators in any regulated markets who use Lynon’s iGaming solutions.
We put this to both Ayvazyan and Jraghatspanyan but they failed to respond.
We also enquired about Lynon’s licenses and software certifications. Lynon’s website says that the software has “industry-standard certifications,” but neither Ayvazyan or Jraghatspanyan were willing respond to our requests for information.
As we explained to Ayvazyan, we played a part in building Lynon’s profile in the industry, which is why we felt compelled to also communicate our concerns.
After we put our questions to them, Lynon unexpectedly withdrew from the upcoming ICE expo in Barcelona.