WILLEMSTAD – Curaçao’s overhaul of its online gaming licensing system has strengthened regulatory oversight but has also prompted some operators targeting the Latin American market to consider alternative jurisdictions, according to a new industry analysis.
For years, a Curaçao gaming license was considered the preferred option for international online gaming companies expanding into Latin America because of its relatively low costs and straightforward licensing process. However, that changed after the introduction of the National Ordinance on Games of Chance (LOK), which came into force on December 24, 2024.
The new legislation replaced Curaçao’s long-standing sub-license system with a centralized licensing framework administered exclusively by the Curaçao Gaming Authority (CGA). The reform was designed to modernize the jurisdiction's regulatory framework and bring it in line with international standards following years of pressure from international financial oversight bodies.
While the reform has been widely viewed as necessary to improve transparency and strengthen the island’s international reputation, the report says the transition has increased costs and compliance requirements for operators.
Under the new system, businesses must pay application fees, annual licensing fees and additional government charges, while companies that provide both business-to-business (B2B) and business-to-consumer (B2C) services are now required to obtain separate licenses instead of operating under a single hybrid license. Changes to ownership structures or gaming domains also incur additional fees.
To help operators complete the transition, the CGA granted provisional license holders a six-month extension to meet the new regulatory requirements. Nevertheless, the report argues that the stricter framework has encouraged some operators to evaluate other offshore licensing jurisdictions, particularly those entering rapidly growing Latin American markets such as Brazil, Colombia, Mexico, Argentina and Peru.
Despite these challenges, the report acknowledges that Curaçao remains an established and internationally recognized licensing jurisdiction. It concludes that the LOK reforms are expected to improve the island's long-term standing as the new regulatory framework matures, even though the transition period has temporarily increased compliance costs for operators.