Curaçao Gaming Industry Faces Deadline for Regulatory Shift

The GCB sets March 31st, 2024, as the deadline for online gambling licenses under the NOOGH Act. Operators must complete registration, apply for direct licenses, and submit accurate applications to comply with new regulations by the date. The transition aims to enhance regulatory oversight and industry transparency.

March 31st Marks the End of an Era for Online Gambling Licenses

Curaçao Gaming Control Board (GCB) emphasizes the deadline they set for online gambling firms under its supervision. March 31st, 2024, will be the moment to bid farewell to the old arrangement when the NOOGH Act is no longer a viable instrument for giving out licensing rights.

They also require all operators to finish all necessary paperwork by the above date, including filling out relevant documents.

To continue operating legally after the deadline, online gambling companies must:

• Complete Registration: If a user wishes to access the database, they must do so before the end of March 31st, since on that date, the portal will stop accepting registrations of sub-license.
• Apply for Direct Licenses: The licensee candidates must file the new “direct licenses” applications by the new regulations. Under the new guidelines, licensees must register with the Food and Drug Administration (FDA).
• Submit Accurate Applications: The application is complete, with three main forms placed online: opinion about gaming activities, personal history disclosure, and general and business information.
• Adhere to New Policies: Ensuring a normative environment for AML and Know-Your-Customer to be taken as a given.

The GCB updates its website daily to address any transition misinterpretations. Operators should only trust official announcements from MOF or GCB. All second-level sub-domains and licensees must register using the nine-page NOOGH document before the deadline.

The Shifting of Regulatory Oversight from the Curaçao Gaming Authority (CGA) to the Curaçao Gaming Control Board (CGCB) is envisaged only after the CGA has worked and demonstrated that it can safely and effectively lead the regulatory oversight of the Gaming industry in Curaçao.

Parents and operators without a current license can apply after a specific date and under new regulations. The Curaçao Gaming Authority (CGA) will take over from the previous authority to improve transparency and promote proactive industry participation. LOK will ensure better regulation, particularly on issues such as AML and KYC.

The urgency of the March 31st deadline was emphasized by the GCB’s managing director, Cedric Pietersz. He highlighted the legal risks of operating after the deadline without the proper licensing.

Curaçao’s Minister of Finance, Javier Silvania, has also stressed the importance of the LOK in safeguarding against grey-listing and legitimizing Curaçao as a legitimate gambling jurisdiction.

A Pivotal Moment for Curaçao’s Gaming Industry

With the deadline looming, online gambling operators in Curaçao are facing a critical juncture. Adherence to the new guidelines is essential to secure their place in the evolving regulatory landscape as Curaçao enters a new era of stricter gambling regulations.