Curaçao’s Minister of Finance, Javier Silvania, defended the decision to provide Rhino Entertainment Group with the region’s first direct license amid LOK-related concerns. Some critiqued the licensing of the company as it precedes the formalization of the territory’s new gambling laws.

For reference, Curaçao is currently discussing the National Ordinance for Games of Chance (LOK), a measure that seeks to improve the gambling industry’s standards through direct licensing and better regulation.

While proponents of the measure have highlighted its benefits, opponents are skeptical of certain points. The Dutch government is also conducting an investigation to see if the LOK complies with an earlier deal.

Because of criticism from parliament members, the Curaçao Bar Association and the Advisory Council behind the legislation, the measure is currently being amended. Silvania himself confirmed that the objections of parliament members have been taken into mind and that the LOK will be adjusted where needed.

As a result, Curaçao MP Steven Croes questioned whether the government should have issued the first direct license before the passage of the new law. He also asked for a copy of the license but couldn’t obtain it because of the sensitive information it contained.

Silvania Says the New License Falls Under the LBH

Despite the criticisms, Silvania stood firm by the ministry’s decision to grant the license, pointing out that it falls under the 1993 Offshore Gambling Ordinance (LBH). The Minister of Finance added that the latter law remains fully applicable unless it is repealed by the national ordinance.

Silvania said that the LOK would provide Curaçao with direct control over the issuing of licenses, allowing the territory to exercise direct supervision. This would allow the Gambling Control Board to carry out the necessary checks and prevent gambling-related fraud.

The LOK, Silvania argues, would increase confidence in Curaçao’s gambling industry by reducing the risks of criminal practices.

For reference, Curaçao previously issued licenses to six master license holders, who would then issue sub-licenses to other companies. However, sub-licensees were impossible to properly regulate. Furthermore, the previous law itself is short, not sufficiently clear and outdated, highlighting the need for a new licensing framework.

Despite that, the future of the LOK remains murky.

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The Curacao Gaming Control Board, the government body in charge of regulating iGaming in the region, has announced it issued its first licenses under the new regulatory regime that came into effect last year.

Among the entities receiving licenses we can find White Star, a brand that is part of the Rhino Entertainment Group, which secured a new license for its CasinoDays online casino brand. At the same time brands such as Games and More, Geeka Corporation and Small House have received Digital Seals from the Gaming Control Board.

The confirmation of the licenses being issued comes just twelve weeks after Curacao launched its new licensing process, with applications being received starting the first day of November 2023.

The licensing portal has been processing new applications under existing legislation, asking all licensees to submit applications if they want to keep operating after the new National Ordinance for Games of Chance gets approved. Once that new legislation comes into effect, the Curacao Gaming Authority will take control of the licensing process and of the whole regulatory side of the iGaming business in the region. The new law was submitted to the Curacao Parliament for approval in December 2023.

A Transformative Period

Cedric Pietersz, the Managing Director of the Curacao Gaming Control Board said that “2024 heralds a transformative period in the regulatory landscape of Curacao’s gambling sector” and revealed that the volume of applications for licenses “far exceeded” the regulator’s expectations.

“White Star’s license holds a special place in our hearts and history,” the Managing Director continued. “It signifies a pivotal moment for Curacao’s evolution into a top-tier gambling jurisdiction with many more licenses in process.”

Ross Parkhill, the Chief Executive Officer of the Rhino Entertainment Group, added that being the first entity to receive such a license represents “a privilege” for his company and also a recognition of its “commitment to excellence and responsible gaming.”

The Chief Executive Officer added that his company “wholeheartedly” supports the new regulatory process that is being implemented in Curacao, underlining that it brings “added value and prestige” to the online casino’s license.

Source: “First License Issued By Curacao Gaming Control Board Under New Regime”. European Gaming. February 5, 2024.

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The Curaçao Gaming Control Board announced that it has added Cedric Pietersz to its supervisory board. The appointee will serve as the board’s new managing director from February 1, 2024, the body added.

Pietersz lacks prior experience in the gambling industry but boasts over 20 decades of experience in the fields of management and supervision. Prior to his current appointment, the man worked for Centrale Bank van Curaçao en Sint Maarten where he cultivated a lot of regulatory experience.

In his new position, Pietersz will be tasked with monitoring all licensing activity that takes place under the National Ordinance on Offshore Games of Hazard. He will leverage his experience in regulatory and anti-money laundering matters to ensure that everything aligns with the law and will also oversee the territory’s transition to the National Ordinance for Games of Chance (LOK).

Pietersz Joins at a Very Dynamic Time

Pietersz is looking forward to joining the regulatory authority and helping it open a new chapter. The hire released a statement on the matter, saying that he is honored to be joining the Gaming Control Board at such a “dynamic time.”

I am confident that together with the team and the supervisory board we will strategically steer the GCB into a new era while delivering value to all stakeholders including the minister of finance.

Cedric Pietersz, managing director of the Curaçao Gaming Control Board supervisory board

The new director was welcomed on board by Fons Simon, the supervisory board chairman. Simons confirmed that the new appointment will enable to regulator to usher in a new era of regulation.

The GCB is at a pivotal juncture and Cedric’s appointment marks the start of a transformative era.

Fons Simon, chair of the Curaçao Gaming Control Board supervisory board

Simon concluded that Pietersz boasts a proven track record in the financial sector and is well-versed in regulatory and anti-money laundering matters. Thanks to that, he will bring in a mix of strategic foresight, regulatory understanding and operational experience.

In the meantime, Curaçao’s Independent Advisory Body just raised concerns about the text of the LOK and its compliance with FATF’s AML requirements.

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Javier Silvania, Minister of Finance in the government of Curacao, has released a statement in which he condemns what he calls “misinformation” regarding the country’s new gambling law.

The National Ordinance for Games of Chance, a new legislation that will completely overhaul how gambling is regulated in Curacao, was submitted to the country’s Parliament for approval in December 2023. Until the new legislation is approved, Curacao will continue to operate under the existing National Ordinance on Offshore Games of Hazard legislation.

In the statement the Minister of Finance admitted that the National Ordinance for Games of Chance and its submission to Parliament was expected to generate a “wider debate.” However, Javier Silvania was keen on warning against the spreading of misinformation regarding the legislative process.

The Minister of Finance explained that he noticed “a significant amount of misinformation” and strongly urged “against the further propagation of unverified rumors or speculation” regarding the new legislation. “Full and accurate information can only be guaranteed when issued by either the ministry itself or the Curacao Gaming Control Board,” Silvania added.

Current License Issuing Process Remains in Place

The Minister of Finance also expressed his full support for the Curacao Gaming Control Board as it will transition towards the new legislative framework. “To suggest otherwise would be reckless and misleading,” Javier Silvania warned.

Moreover, the Minister of Finance confirmed through the respective statement that the current license issuing process remains in place. According to Javier Silvania that also means that “the Critical Milestones published on 20th December 2023 are likewise unaltered.”

The Critical Milestones document detailed the ministry’s process for transitioning from the current framework to the new one. One of the key dates in the process will be 31 March 2024, because from this date, the registration of sub-licenses on the Gaming Control Board website and the subsequent application for a direct license will no longer be possible. Moreover, no new license extensions or renewals of master licenses will be possible after this date.

The Curacao Gaming Control Board has also renewed all gambling licenses and from 1 January 2024, all license holders were allowed to begin displaying a digital seal on their online casino websites. The application process for operators kicked off on 1 September 2023 through the opening of the online portal, which began accepting account registrations for applicants and sub-licence holders on 1 November 2023.

Source: “Curaçao minister of finance blasts LOK “misinformation”. iGaming Business. January 11, 2024.

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A significant step towards the new gambling regulation in Curaçao has been taken. The bill for the gambling regulation is submitted to the authorities, and now the parliament is supposed to decide whether it will approve it or not.

Significant changes in the market

There are various changes for the currently licensed operators as well, so the Ministry of Finance issued a notice to inform them about the transition to the new system in order to ensure smooth operation.

The changes will be overseen by the National Ordinance for Games of Chance (LOK), a new regulation body that will be established soon.

There will be a variety of changes, but the most important are changing the license types and establishing new fees for operators.

The operators won’t be able to register for sub-license through the Curaçao Gaming Control Board (GCB) anymore after March 31, and all operators that aren’t registered won’t be able to operate.

The portal was opened on September 1, which greatly shortened the whole application process. The operators were able to apply for licenses from November 1, and it could process new applications and register the operators who had already received their licenses.

The applications in progress will continue after March 31, while licensees will continue operating under a provisional license.

If the operators haven’t applied for the direct license before March 31, they will be able to continue operating under a sub-license or wait for LOK to be enacted, when they are obligated to apply for the direct license.

According to the new law, all licenses were renewed.

Digital Seal regulation

All operators who got their licenses before January 1 will be able to show the Digital Seal they got from the GCB on their website. Also, the applicants who have already submitted their applications will be able to do the same. The policy related to showcasing the Digital Seal will be released in the future.

The first announcement of the new Curaçao regulations happened in July 2022, and work on the process started in January this year.

New legislation has great support among the country’s government and regulators. Sixiènne Jansen, legal advisor to Curaçao’s Ministry of Finance, said that the first potential date for releasing new updates was September 1. Javier Silvania, Curaçao’s minister of finance, also supported the LOK and the new regulations, saying back in September that it would prevent the grey-listing by the Financial Action Task Force in the country.

Source: “Curaçao gambling regulation bill enters parliament”, December 19, 2023.

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New gambling legislation in Curaçao will bring various benefits to players, and one of the most important, as Minister of Finance Javier Silvania claims, is creating a “safety net” that will prevent grey-listing in the country.

Applications open

The National Ordinance for Games of Chance (LOK) will be in charge of that, and it will completely change the gambling scene in Curaçao. The Gaming Control Board (GCB) has already opened the license application portal, which has been active since September 1st. On top of that, the body got a new advisor, Hilary Stewart-Jones.

The Board will accept applications from November 17th, and the ones who get the interim Curaçao license after which they’ll have six months to submit all required documents. According to Silvania, the risk of grey-listing is huge if anti-money laundering systems are weak.

After Gibraltar became a part of the Financial Act Task Force’s grey list, Silvania got worried. He said: “In particular, the FATF criticized the government’s failure in applying sufficient fines for anti-money laundering failings. AML is a key criteria of financial evaluations, one of which Curaçao will be subject to next year. And let me be very clear about it: the likelihood of us being placed on the grey list because our lack of AML legislation within the gambling sphere is real, and it is worrying.”

If Curaçao follows Gibraltar’s footsteps, many problems await. Among the most concerning ones are restrictions, or even the prohibition of trade from some companies and governments, which would greatly impact the country’s economy.

However, the gambling and gaming industries will remain in the same shape after the legislation is approved.

Silvania addressed it: “To those who have apprehensions about this legislation – I hear you. Changes are always met with skepticism, especially when they impact long-established practices. However, for all the operators out there, our intent is not to disrupt but to elevate.”

Priorities and benefits

The new system will definitely change the country’s economy, but it’s not only when it comes to revenue. In 2022, Curaçao earned €250.000. Compared to Malta, which earned €82 million, the revenue could get higher, but not only numbers are speaking – Silvania thinks that the two countries have different approaches and priorities when it comes to the gambling industry.

However, the workers currently employed in the hospitality industry will benefit from the new legislation since it will create more jobs.

Silvania finished: “The intent of our efforts to revitalize the legislative landscape is to develop Curaçao as a center of excellence in the gambling industry. This pushes the envelope for employment opportunities, and in fact there are many individuals and businesses out there who have no idea of the opportunities that are coming their way.”

Source: O’Hagan Marese, “LOK provides ‘safety net’ from grey-listing, says Curaçao Minister”, iGB, September 27, 2023

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In a pivotal development, Hilary Stewart-Jones, a seasoned solicitor with over three decades of experience, has been appointed an advisor to the Curaçao Gaming Control Board (GCB). Her extensive legal background and expertise make her an invaluable addition as Curaçao embarks on a landmark transformation of its gambling regulations, signaling a momentous shift for the jurisdiction.

Stewart-Jones Has a Long History of Success

The new GCB Advisor has built a distinguished career in the legal and gambling sectors, holding prominent positions throughout her professional journey. Her impressive résumé includes non-executive director positions at renowned organizations like Ladbrokes and Paysafe Group. Stewart-Jones now works as an independent consultant at prestigious gambling law firm Harris Hagan and serves as Chair and CEO of Skywind Group, a leading gaming industry software provider.

Stewart-Jones’ legal career bears the unique distinction of a star in the gambling category, making her the only practitioner to earn such a prestigious award. Her peers regard her as a first-class lawyer with gaming in her blood, making her the perfect fit for the new position. Stewart-Jones was excited to join the GCB, aiding the regulator during such a pivotal moment in its history.

It’s an honor to be part of the monumental change that is the revitalizing of Curaçao as a world-class player in the global gambling arena.

Hilary Stewart-Jones

The GCB will fully employ Stewart-Jones’ talents, leveraging her risk and compliance expertise to navigate rising challenges. The Board’s newest Advisor continues to advise brick-and-mortar businesses like tracks and casinos. However, her core strengths lie within the online sector, where she has overseen most of the floats/acquisitions since 2000.

This Appointment Marks a Significant Milestone

Curaçao is currently undergoing a comprehensive restructuring of its gambling regulations. This ambitious undertaking signifies a substantial departure from the existing regulatory framework and aims to modernize the jurisdiction’s approach to gambling. As the nation transitions into this new era, it faces the task of implementing the National Ordinance for Games of Chance (LOK).

The present phase represents a transition period as Curaçao prepares to enforce the LOK. During this time, organizations seeking to operate within Curaçao must submit their applications through the GCB’s dedicated portal, which officially opened on 1 September. As the transition period ends, the GCB will pass its responsibilities to the Curaçao Gaming Authority, the country’s new regulatory body. 

As Curaçao navigates this significant regulatory evolution, stakeholders are eager to see how these changes will impact the gambling landscape in the jurisdiction and beyond. Hilary Stewart-Jones’ appointment is a promising sign, indicating the Board’s determination to ensure a seamless transition. Her wealth of experience will be instrumental in ushering in a more contemporary and efficient approach to the gambling industry.

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Curaçao, the Dutch Caribbean island that everybody in the iGaming world knows very well, is currently going through a transformation process when it comes to licensing online casinos as the government implements the National Ordinance for Games of Chance.

The new legislation comes with a new licensing process, which kicked off at the start of September, when the Gaming Control Board has officially opened the license application portal.

The new portal is processing new applications under the rules of the current legislation while also registering all sublicensees which want to continue their operations without interruptions when the National Ordinance for Games of Chance go into effect. Moreover, when the new law comes into force there will be a new regulator in charge: the Curaçao Gaming Authority.

The new law stipulates that only companies that are registered in Curaçao can receive licenses. That leads to two main obligations for online casino operators: have a registered Curaçao address and employ at least one director in the country.

Until the National Ordinance for Games of Chance comes into effect, the government will process all new applications under existing legislation, so for the moment the operators are not required to have a physical office on the island or local employees.

In fact, those two aspects are the main changes that affect online casino operators that apply for licenses in Curaçao and for current license holders that desire to continue their operations.

The portal set up by the government contains all necessary information on how to apply for a gaming license, along with guidance on the entire process. Operators can submit their application starting on November 15.

Application Process in Detail

The application process is not very complicated, companies have to fill in just three forms: an application form, a corporate disclosure and a personal disclosure. All three forms are available to download from the government portal.

The personal disclosure form must be filled out for every Ultimate Beneficial Owners which hold at least a 10 percent stake in the respective company. The form also applies to top-level executives such as Chief Executive Officers.

The government has set a processing interval of two months, but that is the case only for applications which are filled out correctly. Applicants that are successful will receive a provisional license for six months and during that period they must submit audited policies and procedures.

Once the National Ordinance for Games of Chance will come into effect, the government will proceed with transferring all existing applications over to the new format, regardless of the stage of the application.

Source: “What will Curaçao’s transition period look like?“. iGaming Business. September 15, 2023.

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Changes are coming to the online gambling jurisdiction of Curacao with a new law coming into effect soon. For background and a frame of reference, readers can find more information at the end of this article.

Beginning September 1, all new licenses will be issued by the Curaçao Gaming Control Board (GCB).

At a recent iGB LIVE (iGaming Business conference) Curaçao’s Ministry of Finance, Sixienne Jansen laid out how the online gaming licenses issued by the jurisdiction of Curacao will function beginning on September 1, 2023, under Curacao’s National Ordinance for Games of Chance (LOK).

LOK is Not Yet the Law of the Land

It’s important to note that the LOK is not yet the “law of the land” but binding agreements exist between Curacao and Amsterdam for its content and full implementation. After August this year, new licenses will be issued to the Master License holders under new rules, even though the LOK has not been introduced into parliament yet. In order to ensure continuity, all four Master License holders will automatically receive one of the new licenses on September 1. The license will be provisional and valid for one calendar year.

The LOK will reform how online gambling licensing will work for foreign operators. Nearly all licensed offshore casinos accessible to players in the United States are licensed in and regulated by Curacao.

Under the current law, there are four Master License holders in Curacao and those license holders can issue “sub-licenses” for operators of any game of chance or skill – whether it is poker, table games, bookmaking, online casinos, lottery, or any other form of remote gambling. By some estimates there could be as many as 12,000 gambling operators licensed in Curacao. However, the number of active operators is most likely much smaller

The Curacao government plans to change the entire system in a phased reform without disrupting current business operations.

According to Jansen: “No operator is going to have to pause or stop any business as a result of anything done by the Ministry. One of the primary elements of the transitions into the new regime is to facilitate uninterrupted continuity of all operations of sublicense holders.”

When the LOK actually becomes law, all “sub-licensed” operators will only have 90 days to apply for a new license without regard to any time remaining on their former license. However, Master Licensers will no longer issue any new permits and all interim or provisional licenses will be issued directly by the Curaçao Gaming Control Board (GCB). Those licenses will automatically convert into LOK licenses later on.

New Regime to Comply With International Standards

However, the new regime will be a bit tighter to conform more to international standards. While current license holders already have specific obligations and are investigated by the Master License holders, three forms must be submitted by operators under the LOK whereas the application process under the current regime has never been fully explained to the public.

• Online Gambling Application:
• Personal Declaration:
• Corporate Disclosures:

“Once an applicant has satisfied the GCB in terms of the forms and documentation submission, then a license will be issued,” Jansen said.

“Within 6 months of that license audited policies and procedures will need to be submitted for evaluation.”

The same regulations that apply now will continue to be binding during a 9-month transitional phase so there should be no disruption of business practices for operators.

Jansen explained that operators who don’t wish to participate in the new regime will have ¾ of a year to wind up their businesses under existing regulations: “For those operators who do not wish to move to the new licensing regime, they can continue to conduct business up until the date the relevant master license expires,” said Jansen.

A summary of points regarding the new licenses includes the following:

• Licenses issued from September 1 will be issued by the GCB under current legislation and regulations and will not immediately be controlled by the LOK as it is not yet the “law of the land”.
• Sub-licenses will not be issued by the GCB, however, they will still be available from master License holders from September 1, 2023, until the LOK is implemented.
• New provisions addressing anti-money laundering and responsible gambling will become known to the public as they will be part of the new licenses.
• Current license holders or those with approval in process should consult with their master licenser for more information on how to proceed – this includes operators whose licenses are currently “on hold”.

Business as Usual – For Now – As Operators Go – New Process Coming

“Contrary to much speculation, there has been no change whatsoever to the legislation or permissions since the minister publicly announced the drafting of the new legislation last November,” said Jansen.

One point bears repeating:
Beginning September 1, all new licenses will be issued by the Curaçao Gaming Control Board (GCB).

The Minister is expected to issue further guidance and more updates in September as well as a new fee structure for operators.

More Information on Curacao Gambling Law

Curacao is an online gambling website license provider and casino regulator with an antiquated and semi-transparent framework that is little understood by laymen and government officials in other nations. In a nutshell, the government has issued “Master Licenses” to four Master Licensers who then accept or reject individual gambling operators and issue “sub-licenses” to online casinos, bookmakers, and other remote gambling providers.

More background on the former “Netherlands Antilles” island shows the difficulty in whether to even call it a country or to explain its relationship with the Netherlands, its independence, or its obligations to the Dutch government.

The following is from Wikipedia and is known to be a true statement: “Following a referendum, and as a result of constitutional change, Curaçao became a constituent country within the Kingdom of the Netherlands on October 10, 2010.”

The further background shows that since that time the kingdom and the government in Amsterdam have wrestled with how to modernize gambling law there and more recently, to bring it more in line with how regulation and gambling law enforcement functions in other jurisdictions.

The Netherlands is a parliamentary democracy. Dutch people can choose who represents them in parliament. The Netherlands is also a constitutional monarchy.

Further complicating the push for reforms from the Dutch government includes the following fact:
“Curaçao has full autonomy on most matters, with the exceptions summed up in the Charter for the Kingdom of the Netherlands under the title “Kingdom affairs”.

It wasn’t until the small island constituency needed assistance from Amsterdam during the world health emergency of the Covid pandemic that the Dutch government was able to exert enough influence over Curacao to “encourage” them to change the way gambling regulation and enforcement is handled and to get them on a timeline to implement those changes.

It is also important to note that the Netherlands itself has only recently reformed its online gambling laws.

The UK’s Law Review is a well-known and trusted website with specific and well-cited information on gambling law around the world. Lawyers there state the following about Dutch online gambling law:
“As of 1 April 2021, remote gambling licenses are available for casino games and sports and horse race betting.”

A more transparent regulatory framework with public and private assurances that it is in line with international standards can only be a good thing for Curacao. More accountability in regard to responsible gambling measures can only improve the player experience. However, until a process for complaints is outlined by the CGB and it is shown to be working on behalf of players, perceptions are not likely to change much.

If the CGB is no more responsive than most of the Master License holders have been to “small” complaints, it will have been an exercise in futility and lip service to the problem of murky terms and conditions including “gotcha” and “God” clauses. As it stands now, only a serious breach of licensing terms will be investigated and the public has no direct knowledge of what those terms might be and rarely if ever learns the result of an intervention.

Source: Curaçao: All master licences to get one-year extension, iGaming Business, July 12, 2023

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