In a decisive move to enhance its gaming sector, the Curaçao Gaming Control Board (GCB) has reopened its online licensing portal, inviting new applications under the current National Ordinance on Games of Hazard (NOOGH). This significant change, effective from July 15, 2024, is part of a broader regulatory overhaul aimed at modernizing the island’s gaming industry.
The reopening of the portal comes with streamlined processes, notably removing the need for an authorization letter, thus making it easier for operators to navigate the licensing procedure. However, the GCB has stated that existing Master Licenses will not be renewed after their expiration dates. This decision aligns with the impending introduction of the new National Ordinance on Games of Chance (LOK), anticipated to bring more stringent regulatory standards.
New Regulatory Standards
The LOK represents a significant shift in Curaçao’s approach to gaming regulation. It aims to address previous concerns about regulatory laxity and bolster the island’s reputation as a reputable gaming jurisdiction. The new regulations are designed to ensure greater transparency, fairness, and integrity within the industry, which has faced scrutiny over the years.
Operators looking to enter or remain in the Curaçao market, including those offering sweepstakes casinos, must now comply with these updated requirements. This includes adhering to higher standards of regulatory oversight, which the GCB believes will attract more reputable operators and provide a safer environment for players.
The GCB’s proactive measures reflect a commitment to improving the regulatory landscape and ensuring that Curaçao’s gaming industry operates at the highest standards. This transformation is expected to position Curaçao as a leading jurisdiction for online gaming, known for its stringent regulations and commitment to fair play.
The industry’s stakeholders have welcomed these changes, viewing them as a necessary step towards enhancing the credibility and attractiveness of Curaçao’s gaming sector. By aligning with international standards, Curaçao aims to become a preferred destination for legitimate gaming operators and a trusted choice for players worldwide.
This regulatory overhaul marks a new era for Curaçao’s gaming industry, promising a future of robust oversight, increased transparency, and sustained growth.
