Reform of Curacao Gaming Licensing – What’s new?

Last September we at Casinova.org reported on the launch of the new license application portal for the Curacao license. A few months later, the Curacao gaming authority has officially announced that the first license for an online casino has been granted. For players, however, this does not mean that they are allowed to play in online casinos with a Curacao license.

Rhino Entertainment Group receives first “new” Curacao license

As the Curacao Gaming Control Board, or GCB for short, announced at the beginning of the month, the renowned Rhino Entertainment Group received the first gaming license under the new licensing system – for the CasinoDays platform.

Rhino Entertainment CEO Ross Parkhill was naturally pleased about this situation:

“Being the first company to receive this new license is not only a privilege, but a confirmation of our achievements and efforts, particularly in the area of responsible gaming.”

Online gambling sector in Curacao is being revolutionized

The Caribbean state of Curacao is currently trying to improve its image in the online gambling sector. Until now, the licensing system was opaque, as sublicenses could be granted almost arbitrarily and official monitoring was not particularly strict. Now all sublicensees must register on the new registration portal by the end of March and apply for a gaming license in accordance with the new standards. Online casinos that fail to apply for the new license within the deadline will lose their approval completely.

With the gambling reform, the government in Curacao aims to prevent the country from being included in the gray list of the Financial Action Task Force (FATF). However, it remains to be seen whether current efforts will be sufficient to achieve this goal. In any case, Curacao is currently trying to set up a new gaming authority that will regulate the activities of online casinos better and more strictly than was previously the case.

Last summer we wrote an article asking ourselves what would happen next with the Curacao casinos.

The Key Changes: National Ordinance on Games of Chance (LOK)

The cornerstone of this reform is the National Ordinance on Games of Chance (LOK), which has already been presented to the country’s Council of Advice and is now on its way to parliament. The LOK gaming license is set to replace the current master and sub-license system, where only four master license holders are authorized to issue sub-licenses to operators.

Focus on Online Gaming and the Curaçao Gaming Authority (CGA)

While LOK 2023 introduces provisions applicable to all games of chance in Curacao, the government’s initial focus will be on online gaming. To ensure a smooth and secure regulatory environment, the LOK includes the establishment of the Curaçao Gaming Authority (CGA), an independent administrative body. The CGA’s role is to not only prevent but also mitigate any unwelcome and unlawful activities related to gambling.

Seamless Transition for Existing Operators

Minister Silvania reassured existing operators that they can continue their business without interruption during the transition period. To facilitate this process, the Gambling Control Board (GCB) will launch a dedicated portal to streamline the license application process. Moreover, Curaçao master license holders will receive a license extension of up to one year until the new gambling law is fully enforced.

Transition Period and New Licensing Framework

Upon the enactment of the LOK, master license holders will automatically transition to the new regulatory regime, provided they comply with the specified policies and regulations. Sub-licensees who wish to continue operating under the new framework will have a three-month transition period to apply for a license under the LOK. During the application and processing period, sub-licensees can continue their operations as usual for up to nine months after the LOK is implemented. However, operators who do not transition to the new licensing regime must cease operations once their relevant master license expires.

Application Process for New Licenses and How We Can Assist

From September 1, the Gaming Control Board (GCB) will begin issuing new licenses directly to operators under the current legislation. However, it’s essential to note that these new license holders will not be allowed to issue sub-licenses. We understand that navigating the licensing process might seem complex, but we’re here to help you every step of the way. Our team can assist you in completing the necessary forms and compiling the relevant supporting documentation for a smooth application process. We’ll ensure that your license application meets all requirements, including Know Your Customer (KYC) checks, and adheres to the highest standards of player protection, AML procedures, KYC, responsible gaming measures, and information security.

Curacao’s gaming landscape is evolving, and securing your 2023 NEW License with LOK is an opportunity to thrive in this dynamic market. Let us assist you in taking this exciting next step for your gambling business. Reach out to us today to learn more about our support and services.