Curaçao Parliament to Issue Verdict on New Gambling Regulations

The Curaçao parliament is currently reviewing a proposed bill aimed at regulating the operation of gambling within the country. 

Javier Silvania Reveals Curaçao’s Bold Move with LOK

The new regulations, called the National Gambling Ordinance (LOK), are poised to introduce heightened standards and bolstered player protection measures.

In June, Curacao’s Minister of Finance, Javier Silvania, unveiled key aspects of the LOK during the iGaming NEXT Valletta 23 conference, underscoring its potential impact on anti-money laundering, fraud prevention, and player safeguarding within the gambling sector. 

The proposed legislation signals a commitment to transparency, urging operators to align with legislation endorsed by reputable jurisdictions and international laws regarding money laundering.

A pivotal component of the LOK involves the establishment of the Curaçao Gaming Authority, a new supervisory body designed not only to prevent but also to actively curtail illegal activities. This move reflects Curaçao’s determination to shed its historical association as the “red-haired stepchild” of the gambling industry.

Additionally, Silvania unveiled the new license fees for online gambling operators under the existing regulations and the upcoming LOK. Currently, there is a single license type, with no fees for operators handling up to 40 domains, while the annual fee is ANG36,000 ($20,090) and the monthly fee is ANG7,000 ($3,884). 

Under the LOK for business-to-consumer licenses, an application fee of ANG9,000 ($4,993) will be introduced, along with due diligence fees ranging from ANG250 ($138) to ANG500 ($277) per person. Monthly fees are ANG4,000 ($2,219), and annual fees are ANG48,000 ($26,633) for an unlimited number of domains. 

GCB’s Online Portal Marks a Turning Point for Curaçao’s Gaming Industry

As part of the reforms, the Gambling Control Board (GCB) launched an online portal at the beginning of September, allowing operators to gather information about applying for Curacao iGaming licenses. 

The registration process opened for license applicants and sub-license holders at the beginning of November, aligning with the LOK.

The GCB started processing license applications on November 15. This move was expected to address historical concerns about Curaçao-based offshore operators providing illegal gambling services globally. 

The application process guides operators through compliance, allowing for a smooth transition. Current license holders will migrate automatically, while companies with sub-licenses must apply but can maintain operations. 

The process signals a shift towards a more transparent gambling sector and preparing Curaçao for broader gambling legislation reforms under the LOK, aligning with international standards and safeguarding its reputation.