WILLEMSTAD - The Curaçao Gaming Control Board (GCB) has issued comprehensive guidelines for operators ahead of a crucial deadline on March 31. This deadline signals a pivotal moment for operators, as registration for sub-licenses on the GCB's portal will cease, and applications for direct licenses under the current legislation, the National Ordinance on Offshore Games of Hazard (NOOGH), will no longer be accepted.
All operators intending to continue operating in Curaçao’s market must complete their registration by this deadline. The guidelines, detailed in a nine-page document, aim to offer operators clarity and direction. Among the key provisions outlined in the guidelines is the requirement for operators to ensure completeness and accuracy in their license application submissions.
This entails the submission of three fully completed forms: the online gaming application form, the personal history disclosure form, and the corporate and business information form.
Moreover, operators must adhere to specific conditions and policies set forth by the GCB, including compliance with anti-money laundering (AML) and know-your-customer (KYC) procedures. Failure to comply with these regulatory requirements could lead to legal consequences for operators.
These guidelines come amid efforts to combat misinformation surrounding the transition to the new regulatory framework. Curaçao's Minister of Finance, Javier Silvania, has stressed the importance of accurate information dissemination from authoritative sources.
“Throughout this entire process, we have been keenly aware of a significant amount of misinformation, confusion, and inaccuracy, and I strongly discourage the further spread of unverified rumors or speculation,” said Silvania in January. "Comprehensive and accurate information can only be assured when issued by either the ministry [of finance] itself or the Curaçao Gaming Control Board.”
The transition to the new regulatory framework commenced in September of last year, with the initiation of the application process through the GCB's online portal. Efforts to communicate the benefits of the new regulatory regime, including providing a framework that addresses concerns related to AML and KYC procedures, have been ongoing.
The guidelines primarily focus on registrations under the NOOGH, as opposed to the upcoming National Ordinance for Games of Chance (LOK), which is currently progressing through Curaçao’s parliament. Once the LOK is enacted, the Curaçao Gaming Authority (CGA) will assume the role of the jurisdiction’s regulator, and all licenses will be issued under its jurisdiction.
