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Curaçao has officially adopted the National Ordinance for Games of Chance (LOK), a landmark regulatory framework that promises to overhaul the country’s gambling industry. The legislation, passed on December 17 by a parliamentary vote of 13-6, introduces a comprehensive licensing system under the authority of the newly renamed Curaçao Gaming Authority (CGA), formerly the Gaming Control Board (GCB).
This reform marks the end of Curaçao’s long-standing master licensing system, replacing it with a modern approach aimed at improving regulatory oversight, boosting government revenue, and restoring the jurisdiction’s reputation in global gambling markets.
The LOK legislation is a response to criticism that Curaçao had become a haven for unregulated operators. By introducing a robust framework, the government aims to raise industry standards and align its regulatory practices with international benchmarks.
Under the LOK, all existing licenses will expire, requiring operators to reapply under the new framework. Licenses are now categorized for B2B, B2C, and B2B2C operations, ensuring that all players in the ecosystem meet uniform regulatory standards.
Companies registered in Curaçao will be eligible for licensing, with the government projecting annual revenues exceeding €20 million from fees.
The CGA has sole authority to grant, amend, suspend, or revoke licenses, ensuring a centralized and transparent process. This centralized oversight will help tackle historical allegations of misconduct and reinforce the integrity of Curaçao’s gambling operations.
Minister of Finance Javier Silvania described the reforms as a “safety net” to protect against unlicensed operators and improve Curaçao’s global standing.
The LOK’s passage comes after a period of intense preparation by the CGA, which has already granted over 220 licenses and expects to approve 600 more by the end of Q1 2025. Despite facing delays due to an influx of applications, the GCB successfully met its Q4 2024 target for legislative approval.
The law now awaits the governor’s signature, expected within days. Once signed, the LOK will take immediate effect, bringing the new licensing regime into operation.
The passing of the LOK was celebrated as a significant achievement for Curaçao’s gambling industry. Aideen Short, PR consultant for the CGA, described it as a “great day for our industry.”
However, the transition has not been without challenges. GCB managing director Cedric Pietersz noted that many license applications lacked required documentation, resulting in delays: “A lot of applications get stopped when they reach our clarification process because documents are missing. We have to send a lot of applications back, even during that first step, and it means it’ll take even more time for us to process.”
Additionally, in response to allegations of corruption, fraud, and money laundering within the licensing system, the CGA reiterated its authority and commitment to transparency: “The GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licenses. The allegation that the GCB lacks the legal authority to grant licenses is therefore incorrect.”
The adoption of the LOK framework signals a new era for Curaçao’s gambling industry. By fostering transparency, accountability, and professionalism, the reforms aim to attract reputable operators, ensure compliance, and solidify Curaçao’s position as a leading global gambling hub.
As Minister Silvania aptly put it, the LOK is not just a legal reform but a "safety net" for Curaçao’s future, paving the way for sustainable growth and a stronger, more respected gambling industry.
Sources: Gaming Intelligence, IGB
