loader search icon
Popular pages
Our top casino picks for United States of America 🏆

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?

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.

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.



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!