The Goblin Cartels of WoW: Bilgewater to Undermine
A guide to WoW's goblin cartels: who leads Bilgewater, Steamwheedle, Blackwater, and Venture Company, and how the Undermine arc ended Gallywix's reign.
By:
John Langan
Key Takeaways
- WoW's goblin economy runs through four main cartels: the Bilgewater Cartel, the Steamwheedle Cartel, the Blackwater Cartel, and the Venture Company.
- Trade Prince Monte Gazlowe leads Bilgewater after Jastor Gallywix's reign, steering the cartel toward the Horde.
- Steamwheedle, run by Trade Prince Marin Noggenfogger out of Gadgetzan, is the oldest and most neutral of the cartels.
- The Venture Company, long led by Mogul Razdunk, turned away from open villainy for the first time under Grimla Fizzlecrank.
- Gallywix returned as the antagonist of the Undermine story and died as Chrome King Gallywix, the final boss of the Liberation of Undermine raid.
- Undermine, the goblins' home city, took center stage in Patch 11.1 during the previous expansion, The War Within.
This recap covers who runs each goblin cartel, what they specialize in, and how the Undermine arc reshaped the balance of power among them.
The Bilgewater Cartel
Famous for sharp business sense and explosive engineering, the Bilgewater Cartel was for years run by the ruthless Trade Prince Jastor Gallywix from Bilgewater Harbor in Azshara. After Gallywix's self-serving leadership cost the goblins dearly, the fair-minded Trade Prince Monte Gazlowe rose to guide the cartel, tying its fortunes firmly to the Horde. Bilgewater is the cartel most associated with goblin invention, from battle mechs and rockets to entire harbor towns built overnight.
The Steamwheedle Cartel
The Steamwheedle Cartel is the oldest and broadest of the goblin trading houses, led by Trade Prince Marin Noggenfogger from Gadgetzan in Tanaris. Steamwheedle prizes strict neutrality, doing business with Alliance and Horde alike, and is best known for alchemy and oddities like the famous Noggenfogger Elixir. Marin's wife, Baroness Sprinkle Noggenfogger, helped perfect that elixir and runs much of the day-to-day trade in Gadgetzan.
The Blackwater Cartel
Operating out of the bustling free port of Booty Bay, the Blackwater Cartel grew from Steamwheedle roots into its own operation under Baron Revilgaz. The Blackwater goblins built their reputation on trade, transport, and a healthy dose of piracy, balancing a veneer of respectability against the cutthroat reality of running a neutral port that welcomes adventurers from every faction.
The Venture Company
Less a cartel than a sprawling corporation, the Venture Company is the goblin world's resource-extraction giant, infamous for clear-cutting forests and strip-mining anything of value. Its president, Mogul Razdunk, met his end as the final boss of the dungeon The MOTHERLODE!! With Razdunk gone, the pragmatic Grimla Fizzlecrank took the reins and, for the first time in the company's history, began steering it away from outright villainy.
Cartel Roster at a Glance
| Cartel | Leadership | Home Base | Known For |
|---|---|---|---|
| Bilgewater | Monte Gazlowe (formerly Gallywix) | Bilgewater Harbor, Azshara | Engineering, mechs, Horde ties |
| Steamwheedle | Marin Noggenfogger | Gadgetzan, Tanaris | Alchemy, neutral trade |
| Blackwater | Baron Revilgaz | Booty Bay | Trade, transport, piracy |
| Venture Company | Grimla Fizzlecrank (after Mogul Razdunk) | Operations across Azeroth | Resource extraction |
With the four cartels mapped out, the most dramatic chapter in their modern history played out on the goblins' own home turf.
The Undermine Arc and Gallywix's Last Gambit
For years the cartels were defined by their leaders and their rivalries, but their biggest modern story beat came when the spotlight finally turned to Undermine, the goblin home city on the isle of Kezan. In Patch 11.1 of the previous expansion, The War Within, Jastor Gallywix returned, scheming to seize total control of the cartels and sell out his own people in the process.
Gallywix's overreach united the rival cartels against him. Gazlowe and the goblins of Undermine rose in rebellion, and adventurers joined the fight inside the Liberation of Undermine raid. There, Gallywix made his last stand as the towering Chrome King Gallywix, only to be crushed beneath his own collapsing mech after his allies abandoned him. His death cleared the way for a new era, with Grimla Fizzlecrank's reformed Venture Company and Gazlowe's Bilgewater shaping what comes next for goblin-kind.
The goblin cartels remain one of Azeroth's most entertaining corners, equal parts greed, genius, and barely-contained chaos. If their schemes have you itching to dive back into the game, you can explore WowCarry's World of Warcraft services to spend your own gold somewhere useful.
Frequently Asked Questions
How many goblin cartels are there in WoW?
The four most prominent goblin cartels are Bilgewater, Steamwheedle, Blackwater, and the Venture Company. Steamwheedle is the oldest and largest, Bilgewater is the Horde-aligned engineering powerhouse, Blackwater runs Booty Bay, and Venture Company handles large-scale resource extraction.
Who leads the Bilgewater Cartel now?
Trade Prince Monte Gazlowe leads the Bilgewater Cartel. He took over from the ruthless Jastor Gallywix and aligned the cartel with the Horde, becoming the goblins' representative on the Horde Council.
What happened to Trade Prince Gallywix?
Gallywix returned as the antagonist of the Undermine story and died as Chrome King Gallywix, the final boss of the Liberation of Undermine raid in Patch 11.1. Abandoned by his allies, he was crushed by his own collapsing battle mech.
Is the Venture Company a goblin cartel?
The Venture Company is a goblin-run corporation rather than a traditional cartel, but it operates at cartel scale. After Mogul Razdunk fell in The MOTHERLODE!!, Grimla Fizzlecrank took over and began turning the company away from its ruthless reputation.
Where is each goblin cartel based?
Bilgewater operates from Bilgewater Harbor in Azshara, Steamwheedle from Gadgetzan in Tanaris, and Blackwater from Booty Bay on the Cape of Stranglethorn. The Venture Company runs operations across many zones of Azeroth wherever resources can be extracted.
What is Undermine in World of Warcraft?
Undermine is the goblins' home city, built into the isle of Kezan. It served as the central setting for the Patch 11.1 story, where the cartels rebelled against Gallywix and players ran the Liberation of Undermine raid.
Are the goblin cartels Horde or Alliance?
Only Bilgewater is formally tied to a faction, having joined the Horde. Steamwheedle and Blackwater both prize neutrality and trade with everyone, while the Venture Company answers mainly to its own profit margins.
Last reviewed 2026-06-23 against Patch 11.1, the Undermine update. Maintained by WowCarry's WoW team.