A bill that will defend an eye on how gambling is operated in Curaçao is now with the nation’s parliament for approval.
The ministry of finance has additionally issued scrutinize to licence holders below the original regulation (NOOGH) concerning the milestones for a seamless transition to the contemporary legislative framework.
The incoming Nationwide Ordinance for Games of Probability (LOK) will overhaul how gambling is regulated within the distance.
The re-regulation will glimpse facets of the present regulation commerce. Among the major alterations are modifications to licence kinds and charges for operators.
What are the milestones?
Registration of sub-licences on the Curaçao Gaming Shield watch over Board (GCB) portal, and the subsequent application for a straight away licence below the original legislation – if required by the sub-licensee – will no longer be imaginable after 31 March 2024.
The portal opened on 1 September, formally kicking off the application process. Epic registrations for candidates and sub-licensee holders may perhaps perhaps well be submitted from 1 November. The portal has two functions – processing contemporary functions below the original legislation and registering licensees.
Any sub-licensee that has now not been registered along with their domains listed on the GCB portal will no longer be accredited to fair after 31 March.
Transition into the contemporary framework below a provisional licence when the LOK is brought into drive – identified as “huge-fathering” – will educate easiest to boom licence holders below the NOOGH as of 31 March. Applications in development will proceed without interruption.
Any operator that wishes to proceed working in Curaçao, nevertheless has now not utilized for a straight away licence from the GCB before March 31, can easiest proceed working below their sub-licence till the grasp licence expires or when the LOK is enacted- whichever date is sooner.
The sub-licensees will then enjoy to educate for a contemporary licence below the LOK.
Besides, the GCB has renewed all gambling licences in Curaçao. The foremost of these renewals will discontinuance in August 2024, and the final one in January 2025.
From 1 January 2024, licence holders will probably be allowed to stamp a Digital Seal on their web site. This Digital Seal will probably be issued by the GCB. Registered candidates which enjoy submitted an application can also additionally receive permission to stamp the Digital Seal on their build of abode. The GCB will teach a coverage on Digital Seals within the long bustle.
How did the jurisdiction win so some distance?
Curaçao’s contemporary gambling overhaul process modified into first announced in July 2022. In January this year, the Dutch authorities talked about Curaçao modified into working on a “contemporary time table” for reform.
At iGB L!VE this year, Sixiènne Jansen, perfect advisor to Curaçao’s ministry of finance outlined what the jurisdiction’s contemporary regulatory timeline modified into attach to hunt for love from 1 September onwards.
Issues easiest ramped up from there. Javier Silvania, Curaçao’s minister of finance spoke out in give a elevate to of the LOK in September. He talked about it may perhaps perhaps perhaps perhaps well act as a “safety procure” in preventing grey-itemizing by the Financial Trudge Job Drive.
