#CasinoSecrets

Investigating the Offshore Online Gambling Industry

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Vavada B.V.

Gaming OperatorRegistered December 28, 2023
2
Applications
2
Domains
9
Related Entities
0
Locations

OGL/2024/252/0153

Granted
Submitted: November 23, 2024End Date: December 9, 2024

Customer

Contact
Boy Hendriks
Email
businessissues.911@gmail.com
Company
Vavada B.V.

Review Timeline

Verification
DFDesiree Francisco (CGA User 6)
Ended May 13, 2024
Due Diligence
PWPhilippe Warzee (PW)
Due Diligence
PWPhilippe Warzee (PW)
Due Diligence
PWPhilippe Warzee (PW)
Due Diligence
AAAnton Axiaq (AAX)
Due Diligence
STSarah Tua (ST)
Due Diligence
KMKevin Mallia (KM)
Suitability
HSHilary Stewart Jones (HSJ)
Suitability
CHCeline Houareau (CLHR)
Conditionally Issued
CPCedric Pietersz (Managing Director GCB)
Conditionally Issued
DIDarvey Isidora (CGA User DI)
Fully Issued
DIDarvey Isidora (CGA User DI)

Compliance Checklists

Application Verification ReviewCritical4 items
Page 6 Question 34 (reviewed and approved)QuestionMinorDue Aug 5, 2024

The form has a different contact person than that of the portal user.

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

Customer Reply: the alternative Admin account has been deleted, lvavadabv@outlook.com Boy Hendriks is the correct Admin / director
Page 6 Question 39 (reviewed and approved)QuestionMinorDue Aug 5, 2024

The email address on the form differ from that of the portal user.

Kindly change the email address and resubmit the form.

Customer Reply: the alternative Admin account has been deleted, lvavadabv@outlook.com Boy Hendriks is the correct Admin / director
Page 7 (reviewed and approved)QuestionCriticalDue Jul 22, 2024

The form must have the Declaration and Data Privacy on page 7 named and digitally signed by the contact person (portal user).

Kindly fill and signed (by the portal user) the Declaration and Data Privacy and resubmit the form.

Customer Reply: the alternative Admin account has been deleted, lvavadabv@outlook.com Boy Hendriks is the correct Admin / director
Page 6 Question 36-38 (reviewed and approved)QuestionMinorDue Jul 22, 2024

The form has the incorrect information that do not match the portal user.

Kindly change to the appointed contact person (portal user) information and resubmit the form.

Customer Reply: the alternative Admin account has been deleted, lvavadabv@outlook.com Boy Hendriks is the correct Admin / director
Application Due Diligence ReviewCritical7 items
QPA/2024/00606 - Konstantin Silver - PHDF (reviewed and approved)QuestionCriticalDue Aug 20, 2024

Kindly note that you must fill out and sign the PHDF digitally. Please resubmit.

<p>Kindly note that you must fill out and sign the PHDF digitally. Please resubmit.</p><p>Kindly note that now you can submit the documents.</p><p>Can you digitally sign it please?</p>

QPA/2024/00606 - Konstantin Silver - Surname (reviewed and approved)QuestionCriticalDue Aug 20, 2024

There was a change of surname. We need to ask for mor clarification

Please clarify and provide some evidence regarding the change in the surname.

Customer Reply: evidence is available, please open portal for sharing. I will make an email as well.
QPA/2024/00606 - Konstantin Silver - SOW (reviewed and approved)Source of WealthCriticalDue Aug 20, 2024

The SOW is missing instead, a SOW of the company was uploaded. Please submit a SOW along with supporting evidence in order to support the business.

<p>The SOW is missing instead, a SOW of the company was uploaded. Please submit a SOW along with supporting evidence in order to support the business.</p><p><br></p><p>Upload the evidence in the SOW section accordingly.</p>

Customer Reply: personal source of funds is updated, 2 lease agreements and the personal bank statement.
Financial Statements 2022 and 2023 (reviewed and approved)Financial AuditCriticalDue Oct 16, 2024

FS 2022 submitted are unsigned. Resubmit signed by director FS 2023 - Kindly submit once these have been drawn up

FS 2022 submitted are unsigned. Resubmit signed by director FS 2023 - Kindly submit once these have been drawn up

Customer Reply: FS 2022 is uploaded accordingly. FS2023 is currently being finalised and will upload the finalised and signed FS 2023 upon completion.
business plan - financial projections (reviewed and approved)Business PlanCriticalDue Oct 16, 2024

Kindly submit detailed 3 year financial forecasts, indicating the projected marketing expenses and commissions paid to any platform/content provider and any loans paid or benefits provided by such third-party provider. Resubmit detailed financial projections as an annex to the BP.

Kindly submit detailed 3 year financial forecasts, indicating the projected marketing expenses and commissions paid to any platform/content provider and any loans paid or benefits provided by such third-party provider. Resubmit detailed financial projections as an annex to the BP.

Update: 11/29/2025 Already marked as approved. This item is closed. Customer Reply: the updated business plan with the financial projections is uploaded, the application is resubmitted, thank you
Player Verification (reviewed and approved)QuestionCriticalDue Dec 4, 2024

Since no date of birth or country of registration is requested at registration stage please advise when players are checked for underage or prohibited countries.

Since no date of birth or country of registration is requested at registration stage please advise when players are checked for underage or prohibited countries.

Segregation of Player Funds (postponed)Player FundsCriticalDue Dec 4, 2024

Since segregation of funds was not selected on application please advise funds management procedure with regards to player segregation funds.

Since segregation of funds was not selected on application please advise funds management procedure with regards to player segregation funds.

Customer Reply: Although fund segregation was not selected in the application, we ensure compliance with regulatory standards by maintaining separate records for player balances. All player funds are securely managed and accounted for within dedicated accounts held by our Payment Providers. These Payment Providers also ensure that the funds are not used for operational expenses and are reserved exclusively for payouts, refunds, chargebacks, holdbacks, and other transactions related to the Operator's Players.