WILLEMSTAD - The Ministry of Finance organized an information session on the online gambling sector on Tuesday. It was announced that the government will once again issue gambling licenses under the current legislation. This is intended as a bridge towards the implementation of the new Remote Gambling Act (LOK - Landsverordening kansspelen op afstand), expected in mid-2024.
The information session revealed that, as it stands, the new legislation for the online gambling sector is expected to come into effect around mid-2024. The LOK is currently being evaluated by the Council of Advice and will subsequently be presented to Parliament.
The Gaming Control Board (GCB) will open an application portal for new licenses on September 1st. The new licenses can be applied for through the government (GCB). Requirements will be set for the application and operation, and there will also be some form of enforcement. The exact requirements and enforcement measures are still unclear.
Existing master license holders are allowed to continue their ongoing sub-licenses and issue new sub-licenses. There will be no change in this regard under the new legislation. Sub-license holders can register but must do so if they intend to make use of the transitional arrangement under the LOK at a later stage.
Once the LOK is in effect, some changes will occur. Registered sub-license holders must apply for a new permit, and license holders who directly applied for a permit from GCB (after September 1st) will receive a provisional permit under the LOK.
Under the new legislation, a license is expected to cost 8000 guilders per month, even for current master license holders. According to insiders, this is cheaper than the current license fees.
GCB will utilize foreign assistance in processing applications. Additionally, license applicants must have their policies and procedures assessed there as well. This incurs significant costs. It remains unclear why this process should take place abroad and not on Curaçao itself. Insiders suggest that a law firm in Malta is being utilized for this purpose.
As previously mentioned, the press was not welcome at the information session. The present journalists were informed that a separate session would be organized for them. After repeated insistence and a long wait, the press was eventually allowed entry. However, the substantive discussion of the new legislation had already concluded.
The press was only informed that a gambling sector fair will be held from September 25th to 27th, and on September 25th, the Curaçao Invitational Poker tournament will be organized by the World Poker Tour.