Curaçao is poised to make significant changes in the regulation of gambling with the introduction of the National Ordinance for Games of Chance (LOK).
This legislation, submitted for approval in December, represents a major overhaul of the existing regulatory framework, known as the National Ordinance on Offshore Games of Hazard (NOOGH).
In an announcement made on January 11th, Minister Silvania acknowledged that the introduction of LOK would inevitably spark extensive debate.
However, he emphasized the need to combat misinformation and confusion surrounding the legislative process.
Silvania cautioned against the propagation of unverified rumors and urged stakeholders to rely on information provided by the Ministry of Finance or the Curaçao Gaming Control Board (GCB) for accuracy.
Silvania also clarified that the current licensing process under the NOOGH would remain unchanged until the LOK is enacted.
This statement ensures continuity for operators, as previously outlined Critical Milestones, published on December 20th, 2023, will proceed without alteration.
The minister expressed his unwavering support for the GCB throughout this transitional period, affirming that they act under his delegated authority.
Any suggestion to the contrary was deemed reckless and misleading.
The Critical Milestones document delineates the transition process from the current regulatory framework to the LOK.
A crucial date in this process is March 31st, 2024, when the registration of sub-licenses on the GCB portal and subsequent applications for direct licenses under the NOOGH will cease.
Furthermore, after this date, no new extensions or renewals of master licenses will be permitted.
The GCB has also embarked on the renewal of all gambling licenses in Curaçao, with the initial renewals scheduled to conclude by August 2025, and the final renewal by January 2025.
Starting from January 1st, 2024, license holders have been authorized to display a digital seal on their websites, issued by the GCB.
The GCB plans to release a dedicated policy regarding these digital seals in the future.
The application process for operators under the new regulatory regime commenced on September 1st, 2023, with the launch of the GCB’s online portal.
Account registrations for applicants and sub-license holders began on November 1st, marking a significant step in the transition towards the LOK.