Curaçao Gaming Authority Extends Provisional Licenses Amid Regulatory Shift
The Curaçao Gaming Authority (CGA) has announced a significant extension for provisional gambling licenses, allowing select operators to continue their operations until December 24. This move aims to provide additional time for new license submissions while navigating the territory’s evolving regulatory landscape.
The extension arrives as a response to the upcoming changes in licensing regulations, effective December, which will no longer recognize licenses granted under the previous system. Originally, provisional licenses issued through the National Ordinance for Games of Chance (LOK) were set to expire on June 24, but the CGA has opted to extend this period by six months for certain operators.
Both ‘Green Seal B2C’ entities and ‘B2B’ license holders in Curaçao will benefit from this extension. Updated licenses are expected to be issued no later than June 27. The CGA has stated that this extra time is crucial for license holders to ensure compliance with Curaçao’s regulatory framework. If operators demonstrate adequate adherence to the new standards by the end of the extension, they may qualify for a full license.
The CGA emphasized that operators licensed post-December 25, 2024, must show substantial progress in meeting various compliance requirements during their initial six-month provisional period. The decision on whether to grant an additional extension or a full license will be contingent on the operator’s demonstrated compliance.
With this new licensing framework, operators and suppliers will face stricter regulatory demands. Among these is the requirement to establish a dispute resolution portal designed to handle player issues without escalating to legal action. Additionally, the system aims to enhance anti-money laundering (AML) measures and improve the market’s reputation on compliance.
Challenges Along the Path to Better Regulation
Curaçao’s transition to this updated regulatory framework has not been without its difficulties. The LOK was initially developed in September 2023, coinciding with the introduction of a new licensing application process. The influx of applications from a range of operators caused delays, as many failed to provide the necessary documentation during the initial stages.
In the midst of these changes, numerous master licenses in Curaçao have expired. The CGA has repeatedly opened licensing windows to allow various operators to submit their applications. However, the continuous wave of applications has stressed the licensing system, particularly due to incomplete submissions.
This regulatory overhaul has also unfolded amid allegations of corruption related to the licensing process. Local politician Luigi Faneyte, a member of the opposition, has claimed that gambling licenses were issued improperly, leading to potential financial losses. He filed a report with the attorney general’s office, prompting scrutiny into the integrity of the licensing system.
Despite these accusations, the CGA has firmly defended its licensing practices, characterizing them as thorough and robust, aimed at fostering a competitive and compliant gaming environment in Curaçao.