The newest National Ordinance on Games of Chance (LOK), passed by Curaçao back in December 2024, is set to replace the outdated licensing system with a more internationally aligned, structured, and transparent regulatory framework.
This transformation of one of the most widely-used licenses in iGaming is meant to change the industry’s perception of the Curaçao legislation and position it as a reputable online gambling authority, especially after the recent high-profile corruption scandals.
The biggest reform is the creation of the Curaçao Gaming Authority (CGA), which will consequently replace the Gaming Control Board (GCB), and become the only, official gambling regulator in the country.
From here, the newly formed CGA will have the task of regulating the activities of B2B suppliers and B2C operators and enforcing stern compliance with responsible gambling, consumer protection, and anti-money laundering standards.
As part of this transformation, the LOK states that only operators and providers with a valid license issued by the CGA will be allowed to operate legally from or within Curaçao. The new legislation will also improve certain regulatory loopholes.
This includes making the license non-transferable and explicitly prohibiting third parties from operating with the same license. As of now, licensees will be required to establish a physical presence in Curaçao and employ at least three staff members from a permanent office.
According to the LOK, this will drastically improve accountability and, just as important, eliminate ghost companies that have previously operated from Curaçao without physical presence and only worked with a PO box.
Moreover, entities with a CGA license will also be legally required to provide financial reports in order to prevent fraud and facilitate a more transparent gaming industry. Additionally, licensees will also be subject to periodically submitting compliance reports and, consequently, demonstrate enduring compliance.
Finally, arguably the biggest and most significant change is the new stern protocols when it comes to protecting at-risk players who suffer from gambling addiction. The new LOK legislation will hold operators accountable and impose strict penalties and fines on anyone who fails to ensure compliance with the new safer play measures.
The legislation reform will also enforce updated license fees and prices to better align with fair practices and the economy. More specifically, applying for a B2B and B2C license will have a starting price of €4,592, with this figure having the potential to significantly rice with additional domains and UBOs.
From here, the new annual B2B and B2C license fees will be €24,490, with B2C companies being legally required to pay an annual supervisory fee of an additional €22,960.
Those who have existing Curaçao licenses have a six-month deadline to transition to the new licensing system, with the possibility of requesting an additional six-month extension in certain circumstances. Those who have already applied for the new license are not required to make any further adjustments.
