This article discusses Curacao’s efforts to reform its online gambling licensing framework. Here’s a concise summary:
Curacao Strengthens Gambling Regulations
Curacao is revamping its gambling licensing system under international pressure to tighten oversight. The Gaming Control Board has resumed accepting applications after a temporary pause, as the jurisdiction prepares to implement stricter regulatory requirements.
Key Changes:
- Legal Framework: Changes are outlined in the National Ordinance for Games of Chance (LOK), expanding on existing legislation rather than replacing it
- Licensing Process: Companies will receive provisional licenses starting November, followed by a six-month transition period for re-regulation
- New Authority: A new regulatory body will handle license applications under the updated framework
Government Stance: Finance Minister Javier Silvania has dismissed concerns that stricter rules might cause an operator exodus, demonstrating commitment to reform despite potential business losses.
International Pressure: Curacao has received appeals from overseas regulators, including Australia’s Communications and Media Authority, to prevent its licensed operators from targeting players in unauthorized jurisdictions.
The reforms represent Curacao’s ambition to transform its reputation from a lenient licensing jurisdiction to one with more robust regulatory standards, despite potential resistance from existing operators accustomed to the current framework.
