#CasinoSecrets

Investigating the Offshore Online Gambling Industry

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Lotostorm B.V.

Gaming OperatorRegistered January 4, 2024
1
Applications
1
Domains
20
Related Entities
0
Locations

OGL/2024/303/0300

Granted
Submitted: October 16, 2024End Date: January 14, 2025

Customer

Contact
Rudsel Lucas
Email
sadekyafiu0.0.2@gmail.com
Company
Lotostorm B.V.

Review Timeline

Verification
MBMonica Botero (GCB User 7)
Due Diligence
STSarah Tua (ST)
Due Diligence
AAAnton Axiaq (AAX)
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
GCGerald Chocolaad (CGA User 25)
Fully Issued
GCGerald Chocolaad (CGA User 25)

Compliance Checklists

Application Verification ReviewCritical4 items
Business PlanBusiness PlanCriticalDue Jul 29, 2024

Document is missing

Kindly submit the requested document

Financial StatementsFinancial AuditCriticalDue Jul 29, 2024

Document is missing

Kindly submit the requested document

Volodymyr ZhukovskyiQuestionCriticalDue Jul 29, 2024

Question no.25: The Compliance Officer function cannot be combined with another commercial role as it will lead to a conflict of interest and/or cause problems in the independence functioning of such a compliance role.

Please resubmit the form with the correct options.

Volodymyr ZhukovskyiProof of AddressCriticalDue Jul 29, 2024

Utility Bill is outdated (March 2023), Kindly re-submit an updated document

Utility Bill is outdated (March 2023), Kindly re-submit an updated document

Application Due Diligence ReviewCritical11 items
Share Ledger CertificationShare LedgerLowDue Jan 30, 2026

The share certificate submitted is uncertified. Resubmit duly certified.

The share certificate submitted is uncertified. Resubmit duly certified.

RCL: As per discussions, similar CL items on certifications are to be reviewed by CGA
[Sarah Tua - 27-01-2026 08:53]
@RCL: SL has been resubmitted for review.
[Gerald Chocolaad - 26-01-2026 12:40]
Director's Register CertificationDirector's ListLowDue Jan 30, 2026

The director's register submitted is uncertified. Resubmit duly certified.

The director's register submitted is uncertified. Resubmit duly certified.

RCL: As per discussions, certifications are to be vetted by CGA
[Sarah Tua - 27-01-2026 08:56]
@RCL: Certified DL has been uploaded for review.
[Gerald Chocolaad - 26-01-2026 12:42]
Financial StatementsFinancial AuditHighDue Sep 10, 2024

Submit management accounts for year ending 2023.

Submit management accounts for year ending 2023.

New item has been created.
[Gerald Chocolaad - 26-01-2026 13:19]
Business Plan - organisational structureBusiness PlanMediumDue Jan 30, 2026

The organisational chart shows the UBO as responsible for AML/KYC. The compliance officer, fluent in AML and duly responsible, cannot be the UBO. Update and resubmit.

The organisational chart shows the UBO as responsible for AML/KYC. The compliance officer, fluent in AML and duly responsible, cannot be the UBO due to conflicting provisions. Update the organisational structure and resubmit.

@RCL: BP has been resubmitted for review.
[Gerald Chocolaad - 26-01-2026 16:10]
Source of funds of businessSource of FundsCriticalDue Jan 30, 2026

Submit documentation as to how the business is being funded and by whom, including evidence of funding/loans by shareholders and/or third parties.

Submit documentation as to how the business is being funded and by whom, including evidence of funding/loans by shareholders and/ or third parties.

New item has been created.
[Gerald Chocolaad - 30-01-2026 17:37]
RCL: Applicant did not submit any SOF/Funding documentation. An unsigned letter was submitted, indicating that initial funding done by UBO. Due to lack of agreement, no amounts are indicated.
[Sarah Tua - 27-01-2026 12:35]
@RCL: SOF document submitted for review.
[Gerald Chocolaad - 26-01-2026 16:45]
QPA/2024/00369 - Volodymyr Zhukovskyi - Birth CertificateBirth CertificateCriticalDue Jan 30, 2026

The birth certificate is missing. Please provide a copy of the birth certificate.

The birth certificate is missing. Please provide a copy of the birth certificate.

You can check this and close it
[Anton Axiaq - 02-02-2026 12:29]
@RCL: BC has been resubmitted for review.
[Gerald Chocolaad - 26-01-2026 16:55]
QPA/2024/00369 - Volodymyr Zhukovskyi - Refernce Letter and Proof of addressQuestionCriticalDue Jan 30, 2026

Both documents must be dated within the last six months. Please submit again.

Both documents must be dated within the last six months. Please submit again.

New item has been created.
[Gerald Chocolaad - 26-01-2026 18:12]
QPA/2024/00369 - Volodymyr Zhukovskyi - SOWSource of WealthCriticalDue Mar 17, 2026

SOW is not valid. Please submit a SOW along with certified supporting evidence in order to support the business.

<p>SOW is not valid. Please submit a SOW along with certified supporting evidence in order to support the business.</p><p><br></p><p>Please upload a certified bank statement showing the total amount in the account .</p>

@RCL: SOW document has been submitted for review.
[Gerald Chocolaad - 26-01-2026 18:15]
Compliance officerMiscellaneousCriticalDue Jan 30, 2026

The compliance officer is representing a number of other entities. Please advise how he will be overlooking such operations.

<p>The compliance officer is representing a number of other entities. Please advise how he will be overlooking such operations.</p><p>There is a limit to how many he can represent and at this point he exceeded this. </p>

Semen Klyuchiyk has been appointed as Compliance Officer. This individual is responsible for 7 other companies.
[Gerald Chocolaad - 26-01-2026 18:20]
Financial Statement - 2023Financial AuditCriticalDue Mar 17, 2026

Submit Final version of the Financial Statement 2023.

<p>Dear applicant, please submit the final version of the Financial Statement 2023 under the tab Compiled Financial Statements.</p><p>1/30/2026: Dear Applicant,</p><p class="isSelectedEnd">This serves as a final reminder.</p><p class="isSelectedEnd">Please submit the final version of the Financial Statements for FY 2023 under the portal tab “Compiled Financial Statements” with no further delay.</p><p>Failure to submit the finalized financial statements may negatively affect the assessment of your application.</p>

Checklist requirements satisfied. Checklist closed.
[Luca Camilleri - 10-03-2026 14:43]
@RCL: FS2023 has been submitted for review.
[Gerald Chocolaad - 10-03-2026 14:35]
QPA/2024/00369 - Volodymyr Zhukovskyi - Refernce Letter and Proof of addressReference LetterCriticalDue Feb 2, 2026

Updated certified Bank Reference Letter and Proof of address (not older than 6 months).

<p>Dear applicant, please submit updated certified Bank Reference Letter and Proof of address (not older than 6 months).</p><p>1/30/2026: Dear Applicant,</p><p class="isSelectedEnd">This serves as a final reminder.</p><p class="isSelectedEnd">Please submit an updated, certified Bank Reference Letter and Proof of Address, both not older than six (6) months.</p><p>Kindly ensure that the documents are properly certified by an <b>independent party</b> and uploaded under the appropriate tab without further delay. Failure to submit the requested documentation may negatively affect the assessment of your application.</p>