Last updated: December 03, 2024
The Curaçao Gaming Control Board (GCB) has responded to recent allegations about its licensing authority and regulatory reforms under the National Ordinance on Games of Chance (LOK). It clarified that its licensing authority was officially mandated in 2020 and updated in 2023.
The Gaming Control Board of Curaçao has responded to allegations about its licensing authority and the regulatory reforms linked to the National Ordinance on Games of Chance (LOK).
The GCB explained that its authority to issue gaming licenses was established through a 2020 Minister of Finance regulation. That authority has been amended to the date of November 2023. Since 2020, it has issued licenses under the National Ordinance on Hazard Games (NOOGH).
These licenses will become provisional LOK licenses when the new framework is introduced. The operators will be given a period of one year to meet the changes in the requirements.
The GCB explained its process of licensing. It included verification of documents, due diligence checks, and business plans and websites examination. Further, it clarified that all the license fees are directly deposited into government accounts. It was of the view that such an approach would ensure financial transparency and accountability.
The GCB acknowledged that the current system is largely manual. However, it is looking into the possibility of applying AI for future operational efficiency. Operators were reminded of their obligation to comply with local legislation. Measures to enforce foreign infringements will be handled by the relevant authorities.
On the issue of grievances about players, the GCB cited imminent changes under the LOK mechanism. ADR would now be mandatory and an independent body would institute a procedure for resolution of disputes.
The GCB also addressed BC’s bankruptcy case. Game. It noted that this situation constituted an administrative process involving disputes between the platform and its players. A trustee has been appointed to oversee the disbursement of player payments. This response thus re-assures the GCB of its commitment to transparency and accountability in all it does.
