Financial covenant

The goal of combatting unlawful providers of games of chance is that they will stop their activities towards the Dutch market. If providers persist in their activities, despite the administrative fine imposed by us, we will have to reach to other measures in order to make their professional lives as hard as possible. The Netherlands Gambling Authority is not (yet) allowed to issue binding financial blockades.

Until the coming into force of the new legislation, financial institutions will have to execute this blockades by themselves. From December 2012, The Netherlands Gambling Authority has deliberated with “the financial market” about cooperation with regard to financial blockades.

This has resulted in a financial covenant between The Netherlands Gambling Authority and financial institutions, the contents of which are:

  • Unlawful providers that have been imposed a administrative fine will be put on a list;
  • This list will be distributed among the partners of the covenant;
  • If new customers are on that list, the partners of the covenant will refuse them;
  • The partners of the covenant will resign contracts with existing customers in case of a definite administrative sanction;
  • The covenant and the list will be in force until the coming into force of our new legislation.