In this new analysis, Slotegrator offers insights into the situation with the Curaçao license and shares key news and conclusions.
The Curaçao gaming license has long been a top choice for new online casino and sportsbook operators, but times are changing, and gambling regulations in Curaçao are going through a transitional period. The situation is expected to stabilize in September 2024, but what’s going on in the meantime?
The situation in Curaçao is still in flux, and could change at any moment. Here’s what’s important to know now:
-
The LOK (National Ordinance for Games of Chance) entered parliament in December 2023, where it is still being processed. In a statement issued on January 11, Curaçao Minister of Finance Javier Silvania acknowledged that the LOK would naturally lead to a “wider debate” among members of parliament. In the same statement, he warned against misinformation regarding the upcoming regulations (there were rumors it had been rejected) and reiterated the fact that the final word for all information regarding licensing regulations, terms, and fees is to be found only on the official website of the Curaçao Gaming Control Board or through the Ministry of Finance. He also confirmed that the current process for granting licenses under the NOOGH continues to apply. However, after 31 March 2024, it will no longer be possible. The GCB has also renewed all gaming licenses in Curaçao, with the first renewal expiring in August 2025. The last one will be renewed in January 2025.
-
On January 1, 2024, a special digital seal was introduced for online casinos holding a Curaçao license. The Gambling Control Board (GCB) developed this digital stamp to prevent online casinos from attempting to falsely represent themselves as Curaçao license holders. Permit holders place this digital seal on their website so players can immediately see that the casino holds a legitimate license. An official press release from the Ministry of Finance reports that not every sublicense holder will be able to use the digital seal; it will only be granted exclusively to providers who have successfully completed the registration procedure on the Gambling Control Board (GCB) portal.
-
At the beginning of February 2024, the news broke: the Curaçao Gaming Control Board had issued its first direct license. The pioneer who got this license is White Star (a division of the Rhino Entertainment Group), who acquired the license for their CasinoDays platform.
-
Existing sublicensees have no need to worry. They’re expected to be grandfathered into the new system and given a 12-month transitional license, during which time they can get up to speed with the new regulations.
In the midst of change, there’s one thing we shouldn’t forget: Curaçao has the longest track record of any jurisdiction in the iGaming industry (authorities began to issue licenses in 1996).
The Curaçao gaming license is known for a few benefits:
-
Guaranteed security. Getting licensed gives operators peace of mind so they can do business without having to worry about legal repercussions.
-
Credibility & validity. Due to the vetting process that operators have to go through, having a license grants the casino a significant amount of legitimacy in players’ eyes.
-
Proven reputation. Having a license contributes to the iGaming ecosystem, fighting stigmas and helping create a fair and transparent gaming industry.
In order not to get lost in the new aspects of the acquisition of the Curaçao license, you can outsource the hassle of applying for a gambling license by taking advantage of Slotegrator’s jurisdictional and legal advisory services. Instead of stressing, turn your attention to legitimate business concerns like marketing efforts to attract players.
Here you can ask for a consultation or you can leave a request.
Original article: https://www.yogonet.com/international/noticias/2024/02/26/70988-slotegrator-analysis-of-curacao-reform-current-status-and-updates
