The Curaçao Gaming Control Board (GCB) has announced the reopening of its online portal for B2C and B2B license applications on July 15, 2024. This decision follows the closure of the previous application window on April 30, which was extended from March 31 to resolve application issues.
Prioritization and New Applications
While the GCB is accepting new applications, those submitted before the April 30 deadline will be prioritized. The processing of new applications will begin only after existing ones are completed. This strategy is essential to manage the backlog effectively and ensure a smooth transition for operators.
Expiration of Master Licenses and New Regulations
The reopening coincides with the impending expiration of many master licenses in August, which will not be renewed. Additionally, master licenses expiring in January 2025 will automatically lapse when the new regulatory framework, the National Ordinance for Games of Chance (LOK), is enacted. The LOK, which has been in development since September 2023, aims to update and improve the regulatory landscape for gaming in Curaçao.
Until the LOK is officially implemented, the current National Ordinance on Offshore Games of Hazard (NOOGH) will govern the processing of applications. The LOK is expected to be enacted later this year, after which the Curaçao Gaming Authority (CGA) will take over regulatory duties and license issuance.
Updated Guidelines and Application Process
In March, the GCB released a comprehensive nine-page guideline document for license applications. Key updates for the new application window include the removal of the authorization letter requirement for portal users. The GCB retains the authority to conduct due diligence on all portal users to ensure compliance and integrity.
Ministerial Insights and Future Prospects
Curaçao’s Minister of Justice, Javier Silvania, has frequently underscored the potential of the LOK to act as a protective measure against grey market operators and improve the jurisdiction’s reputation, which has been marred by concerns over money laundering. The LOK is intended to provide a stronger regulatory framework that promotes legitimate gaming operations and curtails illegal activities.
In recent statements to the Curaçao parliament, Silvania emphasized the significance of these regulatory changes in restoring confidence in the jurisdiction’s gaming sector.
To accommodate operators whose sub-licenses under master licenses are expiring, the GCB will issue “Certificates of Operation” as a temporary solution for those with applications in progress. This measure ensures continuity of operations while awaiting the completion of new license applications.
The reopening of the GCB portal represents a pivotal move in Curaçao’s efforts to modernize its gaming regulatory framework and establish a well-regulated and transparent environment for operators and players. The GCB’s commitment to processing licenses efficiently and the anticipated implementation of the LOK mark significant steps towards a more robust and reputable gaming industry in Curaçao.
Source:
REOPENING OF THE GCB ONLINE PORTAL FOR APPLICATIONS (pdf), Curacao Gaming Control Board, July 11, 2024.