Curacao Parliament Approves New LOK Licensing Framework for Gambling Industry
Curacao’s National Ordinance on Gaming (LOK) Approved
On December 17, Curacao’s parliament approved the National Ordinance on Gaming (LOK), introducing a revamped licensing framework for gambling activities on the island. The legislation passed with a majority vote of 13 to 6 and marks a significant milestone for the country’s gaming industry.
Aideen Short, PR and Marketing Consultant for the Gaming Control Board (GCB), hailed the decision as a “big day for our industry” in a LinkedIn post following the vote.
Next Steps for Implementation
The law now awaits the governor’s signature, expected within the coming week. Once signed, the LOK will come into effect immediately. This development aligns with Curacao’s goal to enact the new framework within the fourth quarter of 2024, despite earlier delays due to the high volume of license applications.
During December’s budget discussions, Finance Minister Javier Silvania revealed that the GCB has already processed thousands of online gambling license applications. Of these, 220 licenses have been approved, and another 600 companies are expected to receive licenses by the end of Q1 2025.
Aims of the LOK Framework
The LOK legislation replaces the previous system of master licenses. Existing licenses will expire once the law is enacted, requiring all operators to reapply under the new rules. The reforms aim to enhance Curacao’s reputation and prevent unregulated operators from exploiting the so-called “grey market.” Minister Silvania described the changes as a “safety net” to protect against unauthorized gambling activities.
The new framework offers tailored application categories for B2B, B2C, and B2B2C operators. GCB Director Cedric Pietersz noted earlier this year that many applications fail to meet the stricter criteria, with incomplete documentation leading to delays.
GCB Addresses Corruption Allegations
In November, the GCB addressed allegations of corruption and fraud within the licensing process. The board asserted its sole authority over license approvals and rejections, emphasizing that claims of lacking legal jurisdiction were baseless.
“GCB has the authority to grant, modify, suspend, revoke, or deny licenses, as well as impose conditions on them,” the board stated.
