What’s hot & new

What is the role of RNG in crash games?

2 days ago

Provably fair gambling: The key to stress-free crypto casino entertainment

2 days ago

Weird habits of celebrities and historical icons

3 days ago

Modern casino games: Where gambling and video games meet

4 days ago

"Roobet casino has a new modern design and user interface."

4 days ago

"Gamegram casino has two brand new Welcome Offers on first deposit."

5 days ago

New game added! See the review of Lucky Dragon MultiDice X here

6 days ago

New game added! See the review of DJ Cat here

6 days ago

Stake Casino’s exclusive Pragmatic Play dice selection

6 days ago

"Duelbits Casino now has 4000+ online casino games."

6 days ago

Discover loads of curious Gambling Guides!

What’s hot & new

What is the role of RNG in crash games?

2 days ago

Provably fair gambling: The key to stress-free crypto casino entertainment

2 days ago

Weird habits of celebrities and historical icons

3 days ago

Modern casino games: Where gambling and video games meet

4 days ago

"Roobet casino has a new modern design and user interface."

4 days ago

"Gamegram casino has two brand new Welcome Offers on first deposit."

5 days ago

New game added! See the review of Lucky Dragon MultiDice X here

6 days ago

New game added! See the review of DJ Cat here

6 days ago

Stake Casino’s exclusive Pragmatic Play dice selection

6 days ago

"Duelbits Casino now has 4000+ online casino games."

6 days ago

loader search icon
Popular pages
Our top casino picks for United States of America 🏆
Let’s Lucky Casino logo
Hiperwin Casino logo
Wazamba Casino logo
Lucky 31 Casino logo
LV BET Casino logo
Lucky Dreams Casino logo

    Curacao casinos subject to new assessment standards

    news thumbnail image

    Curacao implements new legislation with stricter international standards for all licensed online casino operators.

    The online gaming industry is always changing and evolving with player safety and entertainment in mind. For Curacao licensed gaming operators, there is new legislation to adhere to, with stricter assessments taking place.

    As of September, all sites will be assessed using stricter, internationally recognised standards.

    Stricter standards for Curacao

    During the iGaming NEXT Valleta 23 Conference, the Minister of Finance, Javier Silvania, announced upcoming legislation changes.

    Silvania stated that as of the 1st of September 2023, all online gambling operators in Curacao will be assessed using stricter and internationally recognised standards.

    The new legislation is referred to as the National Gambling Ordinance (LOK) and has been sent to the Advisory Council for review. From there, it will be sent to parliament. With the implementation of the LOK, there will be stricter rules for the industry, which cover a number of issues and anti-money laundering measures, player protection, and fraud prevention.

    New rules underway

    The enforcement of the new standards is already starting as the existing regulator, Gaming Control Board (GCB), has received instruction to implement and uphold it.

    Initially, the GCB is expected to issue new licenses to online casino operators still under current legislation. The intention is to transition the licenses into the new regulatory framework once implemented. With these measures, the government is looking to ensure no interruptions in business operations throughout the transitioning phase.

    There will be a dedicated portal operators can use to register their applications for direct licenses. The minister expressed his disappointment in the current perception operators have of Curacao licenses being quick and easy to obtain. It’s also currently viewed as licensing that comes with fewer regulations and soft monitoring when compared to other jurisdictions.

    According to Minister Silvania, the new legislation will most certainly reverse this sentiment. Silvania states that they will be demanding transparency when it comes to the source of funding before operators will be allowed to enter the country. He went on to say they will be insisting that all operators strictly comply with the new legislation. It aligns with reputable jurisdictions to meet the minimum requirements of international laws along with the guidelines focused on money laundering.

    With the LOK comes the establishment of a new regulatory body dubbed the Curacao Gaming Authority. This will help in the prevention and mitigation of any unlawful or unwelcome activities.

    With these regulatory reforms, the minister is adamant about Curacao shedding its current reputation as the “red-headed stepchild” of the gaming industry.

    Working with other authorities

    The minister says its collaboration in working with other jurisdictions will create a level playing field for operators and suppliers. The main focus of the new legislation is to safeguard the player’s interest and preserve the integrity of the gambling industry.

    According to Silvania, most Curacao licensed casinos maintain their integrity and follow the proper practices, but some have abused Curacao’s reputation.

    Implementing the new laws and stricter assessments will be a step forward in sifting the good from the bad to remove any foul play or harmful operators who don’t meet the requirements or comply with the new legislation.

    While the procedure is already in motion, it is expected to only come into full effect at the start of September 2023.

    Published: July 21, 2023

    Anything incorrect or missing?

    Let us know

    Article by Polly

    CasinoWow Contributor

    Hey guys, my name is Polina but my friends and colleagues call me Polly. I am truly passionate about online casino gaming and exploring the different online gambling experiences. I'm really into diving deep into topics and researching all the details. My aim is to gather the best information and write interesting articles for all the readers at CasinoWow.

    Mentioned in this article

    Highroller Casino logo
    Highroller Casino
    BitStarz Casino logo
    BitStarz Casino
    King Billy Casino logo
    King Billy Casino
    Casino Friday logo
    Casino Friday
    BitKingz Casino logo
    BitKingz Casino
    GoSlot Casino logo
    GoSlot Casino
    Gamdom Casino logo
    Gamdom Casino
    CrocoSlots Casino logo
    CrocoSlots Casino

    Related content

    NEXT UP IN REGULATIONS

    THE LATEST

    Most popular

    news item
    What is the role of RNG in crash games?
    news item
    Modern casino games: Where gambling and video games meet
    news item
    Stake Casino’s exclusive Pragmatic Play dice selection
    news item
    Innovation in crypto wallets and other popular payment methods
    news item
    CGB extends the deadline for applications by sublicensees
    banner image

    Popular

    Special Guides

    Features

    CasinoWow

    banner image

    Related content

    NEXT UP IN TOP STORIES

    THE LATEST

    compass icon

    Guides

    Online gambling guides
    press icon

    News

    Latest gambling stories
    questionmark icon

    Help

    Online gambling FAQs

    CasinoWow © 2024

    CasinoWow.com Cookies

    We use 🍪 cookies to improve your user experience. By continuing to use this site, you are agreeing to our use of cookies as described in our Cookie Policy.

    Accept

    SUBSCRIBE for EXCLUSIVE offers!

    Be the first to get exclusive bonuses and WOW casino promotions! Get access to our new online casinos, top stories and special iGaming events for FREE.

    Share this page across social platforms!

    Facebook
    Twitter
    Instagram
    Linkedin