#CasinoSecrets

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Fun Fusion N.V.

Gaming OperatorRegistered March 4, 2024
1
Applications
10
Domains
8
Related Entities
0
Locations

OGL/2024/750/0202

Granted
Submitted: August 9, 2024End Date: December 24, 2024

Customer

Contact
Norine Clifton
Email
fun.fusion@morganite-cs.com
Company
Fun Fusion N.V.

Review Timeline

Verification
RTRowenne Tweed (GCB User 4)
Ended Apr 24, 2024
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
KMKieran McLean (KMC)
Approval
CPCedric Pietersz (Managing Director GCB)
Conditionally Issued
CPCedric Pietersz (Managing Director GCB)
Conditionally Issued
GCGerald Chocolaad (CGA User 25)

Compliance Checklists

Application Verification ReviewCritical4 items
Question 39QuestionMinorDue Jul 29, 2024

Question 39 has a different contact person email address from that of the portal administrator.

Kindly change the email address and resubmit the form.

09/22/2025: New OGLAF has been submitted by the applicant for review. 09/22/2025: Account Manager: GC
Business PlanBusiness PlanCriticalDue Nov 8, 2025

The enclosed document is incomplete.

Kindly complete and resubmit

11/01/2025: BP resubmitted for review.
Norine CliftonQuestionMinorDue Nov 8, 2025

PAGE 1: APPLICATION NUMBER: The Personal History Disclosure Form is missing the application number and the personal application number.

Kindly resubmit the forms with the correct application number.

11/01/2025: PHDF resubmitted for review.
Arman MagoyanMiscellaneousCriticalDue Nov 8, 2025

ThePersonal History Disclosure Form for Arman Magoyan and enclosures is missing.

Kindly submit a Personal History Disclosure Form for Arman Magoyan and including all the enclosures.

11/01/2025: Arman Magoyan is stated as not active in the portal.
Application Due Diligence ReviewCritical11 items
Arman Magoyan - QPA/2024/00886 - Proof of AddressProof of AddressCriticalDue Nov 8, 2025

Please provide an actual utility bill.

Please provide an actual utility bill.

11/01/2025: Applicant`s reply: Dear Sirs, please be informed that unfortunately, in Armenia utility bills are issued only in the name of a person who owns an apartment. Therefore we uploaded a state-issued certificate proving that a person is registered at the indicated address. If for CGA is ok we can accept this .
Arman Magoyan - QPA/2024/00886 - SOWSource of WealthCriticalDue Nov 22, 2025

SOW is not enough. Please provide a SOW along with supporting evidence in order to support the business.

<p>SOW is not enough. Please provide a SOW along with supporting evidence in order to support the business.</p><p>Please provide a certified bank statement that indicates the total amount of funds that are in the ubo's account.</p><p>11/01/2025: Please be advised that the bank statement and or supported document must be certified. Please resubmit shortly.</p><p>11/06/2025: Please be advised that the bank statement and/or supporting document must be certified. Kindly resubmit the certified document accordingly. The latest submission date is November 15, 2025. Submission after this date will not be reviewed.</p>

11/01/2025: Please be advised that the bank statement and or supported document must be certified. Please resubmit shortly. 11/15/2025: Applicant submitted certified bank statement for review.
Share Ledger CertificationShare LedgerLowDue Nov 8, 2025

The share ledger is uncertified. Resubmit certified.

The share ledger is uncertified. Resubmit certified.

11/01/2025: Certified SL resubmitted for review
Director's Register CertificationDirector's ListLowDue Nov 8, 2025

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

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

11/01/2025: Certified DR submitted for review.
Financial Statements - APPROVEDFinancial AuditCriticalDue Nov 8, 2025

The FS are missing. Submit FS of the applicant company for years ending 2022 and 2023.

The FS are missing. Submit FS of the applicant company for years ending 2022 and 2023.

11/01/2025: FS for years ending 2022 and 2023 submitted for review. RCL Note 19/11/2025: Signed FS for 2023 submitted. Confirmed and checklist closed.
Business PlanBusiness PlanCriticalDue Nov 8, 2025

A 'terms of service' has been uploaded instead of a business plan. Upload an update business plan, with all the information requested in the portal, including a management structure, details of the business risk rationale, allocated responsibilities, controls, provision of information about payment gateways, contractual and financial model with key suppliers.

A 'terms of service' has been uploaded instead of a business plan. Upload an update business plan, with all the information requested in the portal, including a management structure, details of the business risk rationale, allocated responsibilities, controls, provision of information about payment gateways, contractual and financial model with key suppliers. A 3 year financial projection must also be included.

11/01/2025: BP has been uploaded for review.
Source of funds of businessSource of FundsCriticalDue Nov 8, 2025

SOF documents in relation to the applicant company are missing. Submit documents as to how the company is funded and by whom, including documents which show any funding/loans by the shareholder or third parties, as well as documents which show the funds owned by the company, though cashflow or other means

SOF documents in relation to the applicant company are missing. Submit documents as to how the company is funded and by whom, including documents which show any funding/loans by the shareholder or third parties, as well as documents which show the funds owned by the company, though cashflow or other means

11/01/2025: Applicant`s reply: Please note that the documents submitted are from November 2023 through January 2024, as the shareholder/UBO was changed in December 2023 11/01/2025: @RCL please advise on the change of UBO since the current listed UBO is removed on 28-03-2024. RCL: The same UBO has been reinserted on the 3.11.2025. To request a most recent certified share ledger, to view any movements in UBO (or whether this removal was an error ). With Regards to SOF, the company appears to be funded by its operations- i) To request clarification of the Balance sheet uploaded for 'Traflow Media NV' and its relation to the applicant company (Possibly its a former name..?) ii) The comment of the applicant relating to the change in UBO in 2023, appears to refer to the former UBO who was not part of this application. A share transfer agreement for USD 50K was submitted. FS 2023 were also submitted, showing that the company is funded through its own revenue and therefore this CL may be closed.
QPA/2024/02943 - Volodymyr Bakotskyi - Missing DocumentationMiscellaneousCriticalDue Nov 22, 2025

Please upload the application with the documentation requested.

<p>Please upload the application with the documentation requested.</p><p>11/01/2025: Please be advised that the Curriculum Vitae and the Engagement Letter is missing for the compliance officer. Please submit shortly. Latest submission date is November 15, 2025.</p>

11/01/2025: Please be advised that the Curriculum Vitae and the Engagement Letter is missing for the compliance officer. Please submit shortly. 11/15/2025: Documents have been submitted by the applicant.
QPA/2024/02943 - Volodymyr Bakotskyi - Missing DocumentationMiscellaneousCriticalDue Dec 2, 2024

Please upload the application with the documentation requested.

Please upload the application with the documentation requested.

Player VerificationQuestionCriticalDue Nov 8, 2025

Since no Country of registration or age is required at registration stage please advise at what stage players are verified for underage and prohibited countries.

Since no Country of registration or age is required at registration stage please advise at what stage players are verified for underage and prohibited countries.

11/01/2025: Applicant`s reply: Verification is carried out at the deposit stage and additional verification at the withdrawal stage. RCL - reply accepted. To be tested during AML audit.
QPA/2024/00886 - Arman Magoyan - Proof of addressProof of AddressCriticalDue Dec 31, 2025

Please submit a utility bill as proof of address.

Please submit a utility bill as proof of address.

Closed to rejection
[Gerald Chocolaad - 05-05-2026 13:04]