#CasinoSecrets

Investigating the Offshore Online Gambling Industry

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Grace Bay B.V.

Gaming OperatorRegistered March 21, 2024
1
Applications
15
Domains
9
Related Entities
0
Locations

OGL/2024/1287/0535

Granted
Submitted: June 25, 2024End Date: July 22, 2024

Customer

Contact
Willem Mink
Email
gb@viraemanagement.com
Company
Grace Bay B.V.

Review Timeline

Verification
SMSaura Maurera (CGA user 5)
Due Diligence
MGMario Galea (CGA Admin 1)
Due Diligence
AAAnton Axiaq (AAX)
Due Diligence
STSarah Tua (ST)
Due Diligence
KMKevin Mallia (KM)
Suitability
HSHilary Stewart Jones (HSJ)
Suitability
SBSimon Burden (SMB)
Approval
CPCedric Pietersz (Managing Director GCB)
Conditionally Issued
CPCedric Pietersz (Managing Director GCB)
Conditionally Issued
DIDarvey Isidora (CGA User DI)
Conditionally Issued
AAAnton Axiaq (AAX)
Conditionally Issued
DIDarvey Isidora (CGA User DI)
Fully Issued
DIDarvey Isidora (CGA User DI)

Compliance Checklists

Application Verification ReviewCritical6 items
Tonio (Antonio) Debono Reference Letter from a Financial InstitutionReference LetterCriticalDue Jul 9, 2024

Reference letter is missing.

Kindly submit a valid (within 6 months of application date) reference letter or bank statement.

Update: 8/22/2025 The updated reference letter has been submitted. The ticket has been assigned to the subject matter expert for review and approval. Upon completion, kindly reassign it for any further action required or proceed with closure, as appropriate. Customer Reply: Please see QPA/2024/0493 - under the Personal History Disclosure Tab it indicates all requirements have been met and no further information is needed. Please advise.
Online Gaming Application Form - Question 34QuestionMinorDue Jun 23, 2025

In the Online gaming application form has a different contact person than that of the portal administrator.

Kindly change to the appointed contact person and resubmit the form.

Update: 8/22/2025 Hi Team, The updated OGAF has been submitted. The ticket has been assigned to the subject matter expert for review and approval. Upon completion, kindly reassign it for any further action required or proceed with closure, as appropriate. RCL Note Sep 18, 2025 The re-submitted OGLAF still does not display the official representative as declared on the portal. Checklist set to "displayed to customer" and reminder sent to applicant.
Online Gaming Application Form - Question 36QuestionMinorDue Jul 23, 2024

The passport number of the contact person is missing.

Kindly fill the passport number in Question 36 and resubmit the form.

Update: 8/22/2025 Hi Team, The updated OGAF has been submitted. The ticket has been assigned to the subject matter expert for review and approval. Upon completion, kindly reassign it for any further action required or proceed with closure, as appropriate.
Online Gaming Application Form - Question 39QuestionCriticalDue Jun 23, 2025

The application form has a different contact person email address from that of the portal administrator.

Kindly change the email address and resubmit the form.

Update: 8/22/2025 Hi Team, The updated OGAF has been submitted. The ticket has been assigned to the subject matter expert for review and approval. Upon completion, kindly reassign for it for any further action required or proceed with closure, as appropriate.
Online Gaming Application Form - Declaration and Data PrivacyMiscellaneousCriticalDue Jul 9, 2024

The Online gaming application form must have the Declaration and data privacy on page 7 named by the contact person.

Kindly change the name on the declaration and data privacy to that of the portal administrator and resubmit the Form.

Update: 8/22/2025 Hi Team, The updated OGAF has been submitted. The ticket has been assigned to the subject matter expert for review and approval. Upon completion, kindly reassign it for any further action required or proceed with closure, as appropriate. Everything relating to OGLAF form to be sent to Luca or Kevin. This checklist was not even displayed to customer. It is therefore impossible to review. Uploaded documentation was submitted independently of the C.L and should thus be reviewed independently from the CLs
Online Gaming Application Form - Declaration and Data PrivacyMiscellaneousCriticalDue Jul 9, 2024

The declaration and data privacy must be signed by the contact person (portal administrator).

Kindly resign the declaration and data privacy and resubmit the form.

Update: 8/22/2025 Hi Team, The updated OGAF has been submitted. The ticket has been assigned to the subject matter expert review and approval. Upon completion, kindly reassign it for any further action required or proceed with closure, as appropriate.
Application Due Diligence ReviewCritical6 items
Share Ledger CertificationShare LedgerCriticalDue Sep 8, 2025

The share ledger submitted is uncertified. Kindly resubmit duly certified.

<p>The share ledger submitted is uncertified. Kindly resubmit duly certified.<br></p>

Director's Register Certification (reviewed and approved)Director's ListLowDue Aug 23, 2024

The director's register submitted is uncertified. Kindly resubmit duly certified.

<p>The director's register submitted is uncertified. Kindly resubmit duly certified.<br></p>

Update: 8/22/2025 Excerpt from the Curaçao Chamber of Commerce: “KVK” stamp. Reviewed and approved. This ticket is now closed.
Financial Statements 2023Financial AuditCriticalDue Sep 30, 2025

The FS for year ending 2022 are unsigned. Kindly resubmit duly signed. Kindly also submit FS for year ending 2023. Alternatively, if these are not yet drawn up, kindly submit the management accounts for year ending 2023.

<p>The FS for year ending 2023 displays an incorrect "Retained Earnings" figure, which should be negative 904,911 rather than negative 170,058. Kindly review, update and resubmit.<br></p>

Business PlanBusiness PlanCriticalDue Sep 8, 2025

The business plan does not include a detailed management structure identifying key roles, such as the compliance officer, allocated responsibilities and controls. Kindly update the business plan with the required information and resubmit.

<p>The business plan does not include a detailed management structure identifying key roles, such as the compliance officer, allocated responsibilities and controls. </p><p><br>Kindly update the business plan with the required information and resubmit.</p>

Source of fundsSource of FundsCriticalDue Sep 8, 2025

The corporate bank statement submitted as SOF is uncertified. Kindly resubmit duly certified.

<p>The corporate bank statement submitted as SOF is uncertified. Kindly resubmit duly certified.<br></p>

Online Gaming Application FormQuestionCriticalDue Sep 30, 2025

The OGLAF is not signed by the official representative. Kindly update and resubmit.

The OGLAF is not signed by the official representative. Kindly update and resubmit.