A significant step towards new gambling regulation has been taken in Curacao. The bill to regulate gambling has been submitted to the authorities and now Parliament will decide whether to approve it or not.
Significant changes in the market
There are also several changes for current licensed operatorsTherefore, the Ministry of Finance issued a notice to inform them about the transition to the new system to ensure smooth functioning.
Changes are monitored by the state regulations for gambling (LOK), a new regulator soon to be established.
There will be a variety of changes, but the most important ones are changes License types and establish new tariffs for operators.
Operators can no longer register for a sublicense the Curaçao Gaming Control Board (GCB) after March 31, and all unregistered traders will no longer be able to operate.
The portal opened on September 1st, which significantly shortened the entire duration Application process. Operators were able to apply for and process licenses from November 1st new inquiries and register operators who have already received their licenses.
Ongoing applications will continue after March 31, while licensees will continue to operate under this policy a provisional license.
If operators have not applied for the direct license by March 31, they can continue to operate under this license a sublicense or wait enacted LOK if they need to apply for a direct license.
According to the new law HE they renewed all licenses.
Regulation on digital seals
All operators who have received their Licenses They can show it before January 1st the digital seal on its website which they received from the GCB. Applicants who have already submitted their application can also do so. The guidelines for displaying the digital seal will be announced in the future.
The first announcement of the new regulations of Curaçao It was created in July 2022 and work on the process began in January this year.
The new legislation has strong support the country’s government and regulatory authorities. Sixiènne Jansen, legal advisor to the Ministry of Finance of Curaçaosaid the first possible date for releasing new updates is September 1st. Javier Silvania, Minister of Finance of Curaçaoalso supported the LOC and the new regulations and said in September that they would prevent it gray list the International Financial Action Group in the country.
Spring: “Draft law regulating gambling in Curaçao comes to parliament”. iGaming business. December 19, 2023
