Curacao's Online Gaming Hub Starts Taking Licensing Applications
Curacao recently made a huge leap in revamping its online gaming industry. On November 1, 2023, the small Caribbean island nation started accepting account registrations for applicants and sub-licensees.
The online application platform opened back in September, but applicants could not register until now. Now, gaming licenses in Curacao come with stringent conditions and internationally recognized standards for anti-money laundering and responsible gaming.
Curacao's Minister of Finance, Dr. Javier Silvania, deemed this licensing process a milestone.
"The first of November, 2023, will be remembered as a significant day in Curacao's history as a gambling jurisdiction," Silvania shared. "This is the turning point in a lengthy process to transform Curacao's gambling industry landscape."
Gaming licenses from Curacao have been linked to offshore online gambling providers around the globe.
In 2020, the Dutch government urged Curacao to change its gambling regulations to get some financial aid during the COVID-19 crisis. The island is considered a "constituent country" of the Kingdom of the Netherlands.
Primary Functions of the Portal
The portal serves two main purposes. One is to handle applications governed by the current legislation on behalf of the Curacao Gaming Control Board (GCB). To be considered a valid account, it must be associated with a Curacao company. The email address utilized must belong to this same company, and a signed authorization letter is needed.
The GCB will check the information before the completed application can be submitted.
The other function of the portal is to enlist all sub-licensees wishing to continue their operations after the National Ordinance for Games of Chance is enforced. When that happens, the new Curacao Gaming Authority (CGA) will take over.
Progress in the Transition Period
Curacao-linked offshore operators have been notorious for lax player protection laws and offering illegal gaming services.
Since the online platform launch and the acceptance of applications, Curacao has made significant strides in the transition to the National Ordinance for Games of Chance. This new law aims to bring online gambling operations in line with best international standards and practices.
"We're already surpassing our highest expectations," said Aideen Shortt, Advisor to the Minister of Finance.
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Source: www.casino.org
