Curacao’s iGaming market is on the cusp of enacting its most important changes since its inception. The online betting haven plans to introduce an all-new gambling infrastructure by replacing its current licensing body, the Gaming Control Board, with a separate entity, the Curacao Gaming Authority. This move comes after positive discussions with the Dutch Government; the two work side-by-side as the Netherlands technically owns Curacao.
The GCB had been headed by four private corporations, with each holding a so-called ‘Master License’. Gambling operators seeking a license would need to contact one of the four Master License holders and apply for a sub-license to begin working on the island – but this complicated matters in certain jurisdictions. For example, some payment services do not view sub-licenses as valid certifications.
Remedying the licensing issue has been front-and-centre of the Dutch Government’s mind for several years. Now, the fix is clear: remove private businesses from power and place an independent body at the heart of licensing. The independent Curacao Gaming Authority shall collect taxes, deliver licenses, and review new applications from operators.
Moreover, existing operators must reapply for licenses through Curacao’s new application form. This new form contains two crucial changes: applicants must have a director located in Curacao, and the business itself must be registered within the country. However, operators do not need to own a physical address to earn approval. Platforms based in other regions may be forced to rethink their application, as Curacao’s latest set of rules does not permit offshore businesses to gain licenses. The law behind this is officially dubbed the National Ordinance on Games of Chance (NOOGH). Operators may continue to operate under existing licenses until the NOOGH goes live or when their current certificate expires – whichever is earliest. Applications for renewals closed on March 31st, 2024, but it remains to be seen which entities decided against penning a fresh deal.
SOURCES:
- https://gamblingindustrynews.com/news/regulation/curacao-new-online-gambling-regulator/
- https://igamingbusiness.com/legal-compliance/licensing/curacao-transition-licence-process/
- https://igamingbusiness.com/legal-compliance/legal/curacao-issues-guidelines-for-crucial-31-march-licensing-deadline/
