For a considerable duration, operators based in Curacao have been notorious for their limited player protection measures, and participated in providing unauthorized gambling services. In response to growing apprehensions surrounding addictive gambling and heightened regulatory measures, the online gambling industry in this nation is now experiencing a phase of significant transformation. This change aims to improve regulatory processes and foster a more equitable and secure iGaming environment.
In September of last year, the Gaming Control Board of Curacao (GCB), the supervisor responsible for overseeing gambling activities from March 2020 onwards, announced the introduction of a novel online gateway that would facilitate the process of applications for iGaming licenses in Curacao. While this newly rolled-out portal came into operation two months prior, it served as a source of information for operators keen on pursuing a license.
Presently, two months post the launch of this digital platform, those seeking a license as well as existing sub-license holders have the ability to register. This signifies another significant stride in remodelling the marketplace as the state prepares to transition towards the National Ordinance for Games of Chance (LOK), an impending regulation designed to ensure that online gambling activities within the nation adhere to premium standards and norms prevalent in the international sector.
Continued Revamping of the Marketplace
By the laws of LOK, iGaming operators will be held accountable to stringent licensing necessities as well as adherence regulations. Ultimately, this novel decree seeks to augment the credibility of the industry by ensuring that online gambling operators deliver safe and equitable services to consumers.
Operators desiring a Curacao license can register via the newly launched portal. Furthermore, existing sub-licensees are also required to register through the novel portal. This is a mandatory criterion for relevant license holders to continue their operations once the LOK initiates.
Although facility to register through the portal is already accessible, the GCB clarified that it would commence the operation of processing and accepting online gambling license applications from potential operators as of November 15, 2023. As per the details shared by GCB, licenses “will only be granted to companies based in Curacao that offer online gambling services.”
The GCB recently bolstered its team by including Hilary Stewart-Jones, a highly experienced solicitor. Brought on board in an advisory role, Stewart-Jones’ extensive experience, gathered over three decades, is expected to substantially influence the upcoming regulatory challenges that may surface amidst the ongoing revamping of the gambling industry.
