Dutch Regulator Fines SkyHills Casino Operator Record €37M for Unlicensed Gambling

The Netherlands Gambling Authority (KSA) has fined EOD Code SRL, the Costa Rica-based holding company behind SkyHills Casino, €37 million for offering gambling in the Netherlands without a Dutch license. The regulator says it is the highest fine in its history.

The KSA said it can switch to a revenue-related amount when its standard fines would be small next to what an illegal offering earns, and it did so here.

Because the KSA estimates that EOD Code earned more from bets placed by Dutch players, a higher fine based on a revenue estimate was chosen. This fine for EOD Code is the highest fine the KSA has imposed for illegal offerings to date.

In our reading, that means the size of an unlicensed operator's Dutch business, not a fixed scale, now sets the size of the bill. The KSA has not published the revenue estimate behind the figure.

Missing age checks and crypto payments

The KSA cited two aggravating factors: no visible age verification on EOD Code's sites, and crypto and other anonymous payment methods, which it said carry a money laundering risk.

Its investigation tied the operator to a network of unlicensed casino sites, including slotmonster.com, goldenpanda.com, incognitocasino.com and luckypays.io.

Novatech's record overtaken

The previous high was €24.8 million against Curaçao-licensed Novatech in December 2025, according to reports. The KSA has said that fine could have topped €100 million had legal caps not applied.

The regulator said fines sit alongside close work with payment providers, hosting firms, banks and large tech companies. It is not known whether EOD Code will object to or appeal the fine.