The Curaçao Gaming Preserve an eye on Board (GCB) has launched this can reopen its on-line portal for B2C and B2B licence capabilities on 15 July.
The old utility window shut in Curaçao on 30 April, which used to be the lower-off date for sublicenses. This used to be after the initial lower-off date of 31 March used to be pushed attend by almost a month to allow factors with capabilities to be fixed.
B2C, B2B2C and B2B operators are ready to use for an as much as this point licence, even supposing capabilities made forward of the previously 30 April lower-off date will remain the priority for processing. New capabilities is maybe no longer processed unless the full most modern filings are performed.
The GCB acknowledged the most modern window coincided with a wave of grasp licences expiring in August, which is willing to no longer be renewed.
An as much as this point regulatory framework dubbed the National Ordinance for Video games of Likelihood (LOK) has been in growth since September 2023, when the GCB first established its novel licensing window route of.
Master licences space to breeze out in January 2025 will robotically expire on the day the novel regulation comes into force, the GCB acknowledged.
As the incoming LOK is unruffled progressing by diagram of parliament, capabilities shall be processed beneath the most modern National Ordinance on Offshore Video games of Hazard (NOOGH) rules.
The rules in Curaçao
In March, the GCB launched a nine-internet page doc outlining the rules for capabilities.
Only minor modifications were made sooner than the novel utility window. These consist of the portal user now no longer requiring an authorisation letter.
At ICE London in February Cedric Pietersz, the GCB managing director, acknowledged of the licensing route of: “Factor in that you are going to bear a sub-licence of a grasp licence holder, whose licence expires on 31 August. That technique must you don’t apply, and it’s 31 March, it’s most likely you’ll per chance per chance well also proceed running in your licence.
“Nonetheless after 31 August, which is the date of the expiration of your grasp licence, you are going to be running illegally because you don’t bear a sub-licence and as well you don’t bear a licence from the Gaming Preserve an eye on Board.”
Implementation of the LOK
Curaçao minister of justice Javier Silvania has on loads of occassions highlighted the functionality of the novel regulation working as a “security salvage” against grey market operators, by legitimising gambling operations.
Silvania moreover suggested the Curaçao parliament the LOK would lend a hand to support the reputation of the jurisdiction, which had been seen by some as at possibility of cash laundering.
The LOK is anticipated to return in later this yr, at which point the Curaçao Gaming Authority (CGA) will take over as regulator and oversee the issuing of licences.
Source:iGamingBusiness
