iGaming News
ibd Gaming Source The Latest And Hottest iGaming News
Curacao suspends iGaming license applications under NOOGH until new law passes
Wednesday, 29 May 2024
The Curacao Gaming Control Board (GCB) has temporarily suspended accepting online gambling license applications under the NOOGH as of 1 May. This suspension will remain effective until the new gambling law is passed, hopefully by the end of the summer.
According to the portal login page announcement, all applications are suspended, and no further applications can be submitted until further notice. In addition, domain registration is not possible, accounts cannot be opened, and incomplete applications as of 1 May cannot be submitted.
Curaçao has undergone several changes to its regulatory framework for iGaming, transitioning to a new regime overseen by the Curaçao Gaming Control Board (GCB).
Curaçao’s previous online gaming licensing regime operated under the legal framework of the National Ordinance on Offshore Games of Hazard (NOOGH). Under this, the GCB issued master licenses to master license holders, who issued permits to sub-licensees, otherwise known as iGaming operators.
Recognising the need for a trustworthy and streamlined regulatory approach, Curaçao transitioned to a new licensing system, including a new gambling ordinance (LOK).
The new licensing regime seeks to modernise and enhance the regulatory framework, including a clearer categorisation of licenses, stricter compliance requirements, and stringent due diligence processes.
The new rules are currently undergoing scrutiny in the country’s parliament but have encountered several obstacles. Curacao’s Justice Minister Javier Silvania recently responded to criticism from the Curacao Bar Association, which objected to provisions in the legislation, particularly accreditation requirements for lawyers.
Silvania acknowledged the Bar Association’s concerns and said the government would revise the requirements, shifting from a mandatory accreditation process to a non-mandatory certificate system, reducing practitioners' regulatory burden.
Under the amendments, the Curacao Gaming Authority will issue certificates to lawyers that provide iGaming services to Curacao licence holders. These certificates are valid for up to three years and replace the initial accreditation requirements outlined in the draft law. Silvania said the certification process is optional, granting flexibility to lawyers in the sector.
Silvania also highlighted an amendment to ensure the authorities' financial independence, enhancing transparency and accountability within the regulatory framework.
Silvania responded to criticisms from members of Parliament regarding the LOK by saying the amended law represents a significant milestone in the region’s efforts to reform its offshore gambling industry.
It is hoped the law will be signed off in full by the end of the summer.
Curaçao has undergone several changes to its regulatory framework for iGaming, transitioning to a new regime overseen by the Curaçao Gaming Control Board (GCB).
Curaçao’s previous online gaming licensing regime operated under the legal framework of the National Ordinance on Offshore Games of Hazard (NOOGH). Under this, the GCB issued master licenses to master license holders, who issued permits to sub-licensees, otherwise known as iGaming operators.
Recognising the need for a trustworthy and streamlined regulatory approach, Curaçao transitioned to a new licensing system, including a new gambling ordinance (LOK).
The new licensing regime seeks to modernise and enhance the regulatory framework, including a clearer categorisation of licenses, stricter compliance requirements, and stringent due diligence processes.
To find out more about getting licensed in Curacao, or any other jurisdiction, contact Fast Offshore. We have experience spanning three decades and are perfectly placed to help you get your license, set up your business, and enjoy the success of this thriving sector. Contact our team today!