Curaçao’s online gambling jurisdiction will be going through a number of changes, effective from the 1st September 2023.
According to a report in Casino News Daily, the Curaçao Gaming Control Board (GCB), will be issuing all new licences.
This was announced by Curaçao’s Minister of Finance, Sixienne Jansen, during the iGB LIVE iGaming business conference.
Jansen explained that all licences issued by Curaçao from September 1, 2023, will fall under Curaçao’s National Ordinance for Games of Chance (LOK).
The LOK will make reforms on how foreign operators will be able to work under online gambling licenses, with the Curaçao government planning to make use of a reform in phases to amend the whole system without disrupting already existing operations.
While it is estimated that there could be 12,000 licensed gambling operators in the country, it is likely that there are fewer active operators.
There are currently four holders of a Master Licence that can issue operators with sub-licenses for all casino games in Curaçao.
With the new LOK law, all operators that are sub-licensed will be given 90 days to apply for a new licence.
Master licensors will not be allowed to issue licences anymore, with the GCB assuming that responsibility moving forward.
In his comments, Jansen further explained that when an applicant has submitted all necessary forms and all the correct documents, only then will a licence be issued.
Jansen also said that policies and procedures that have been audited must be submitted for evaluation within six months of the licence.
The Minister of Finance also clarified that any operator who will not be adhering to the new regulations, will be given nine months to shut down their businesses.
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