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.

The post Curaçao Braces For New Licensing Process and Legislation appeared first on Keno Wizard.

Last year, New York confirmed plans for the development of three new downstate casinos. This sparked debate as many operators saw the potential of this opportunity, while local communities sought to determine how they would be impacted by the casinos. The development of those projects would also bring economic stimulus for different regions, offering temporary and permanent workplaces and raising tax revenue.

Now, a new report released by Newsday criticizes the slow progress of the three downstate casinos. Back in January, the Gaming Facility Location Board started accepting applications from potential candidates. The lengthy processes concluded with a 103-page document that included the Board’s answers to 613 questions by applicants requiring clarity on the topic.

In its recent op-ed, the publication criticized the slow progress, explaining that the Board needed 208 days to answer 613 questions, calculating that this timeframe represents less than three answered questions per day. Speaking about the application launch in January, it said that since then the “process has been anything but energetic.” What’s more, the recent report highlighted the incomplete and simplistic answers some of the applicants received.

“The state board spent 208 days answering 613 questions from prospective applicants. That’s less than three questions per day. Some answers were thoughtful, helpful to the applicants, even insightful. But much of the Q&A contained simplistic and incomplete responses on trivial topics — like how much detail applicants should include in their submissions. The unsurprising and relatively unhelpful answer: the most detailed information possible,“

reads the recent op-ed released by Newsday

A Second Round of Consultations Is Open through October

After the initial round of inquiries, operators have a new chance to ask more questions in a second round that will go through October 6, 2023. It is unclear when the answers to the second questions and answers session will be released. Yet, Newsday suggests that the Board should use this time to focus and evaluate its capabilities, ensuring it has enough resources and staffing to respond to upcoming queries faster. It added that the “rest of the process should be conducted in an open, efficient way.”

Without any doubt, the three new downstate casinos would bring benefits, considering that gambling companies are likely to spend hundreds of millions, if not billions, while competing for a license. This summer, the prominent casino operator, Greenwood Gaming and Entertainment, along with the real estate investment and development firm, Silverstein Properties, confirmed their intentions to participate in the race for a casino license in downstate New York.

The post Newsday Criticizes Slow Process for Downstate NY Casinos appeared first on Keno Wizard.

In recent years the Isle of Man has become an increasingly important hub for online casino and sportsbook operators and for casino software and content providers, mainly thanks to its reputable licensing process.

In fact, an operator which holds an Isle of Man B2C License can be regarded as a trustworthy entity as it must stick to strict rules and regulations in order to obtain the aforementioned license. Authorities in this jurisdiction also offer B2B licenses, with top providers like Yggdrasil already applying and obtaining such certification.

There are major changes happening to iGaming jurisdictions all over the world, but the Isle of Man license has remained a symbol of reputation for online casino operators, certifying their compliance both with industry standards and legal requirements.

Moreover, any operator holding an Isle of Man B2C License is required to safeguard the deposits of players and make sure they receive their winnings if they prove to be true and fair.

Operators holding a license in the Isle of Man are also required to uphold principles of fairness, transparency, and security, making sure that they protect the interests of all parties involved. License holders have to submit reports to the Isle of Man Supervision Commission every three months, and in those reports they have to include vital information in regard to Anti-Money Laundering/Combating the Financing of Terrorism reporting, as well as financial data.

Access to Multiple Markets

Holding a license in the Isle of Man allows online casino and sports betting operators to enter multiple markets on different continents, including Asia, Africa and South America. These are pre-regulated markets which can be very lucrative for operators.

Moreover, the Isle of Man has a special status, and it can offer appealing financial incentives, which include corporation and capital gains tax of 0%. Dividend taxes are also non-existent in this jurisdiction.

Operators licensed in the Isle of Man can choose any software provider they like with no restrictions whatsoever, and they are also free to pick between the numerous payment service providers available on the market.

In general, an operator which applies for a license in the Isle of Man should not have to wait more than twelve weeks between making the submission and the actual hearing regarding the respective license.

Among the most popular online casinos which hold an Isle of Man B2C License we can mention 188Bet Casino, 5Dimes, Luckbox Casino, King Dice Casino, CasiYou Casino and Spin-Ace Casino.

Source: “The Crucial Role of the Isle of Man B2C License“. European Gaming. September 11, 2023.

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This comes after the Nebraska Racing and Gaming Commission granted a license to Caesars Entertainment, Harrah’s owners, and the company’s local investors and representatives, the necessary licenses to press on with the opening.

Harrah’s Nebraska to Open Temporary Venue as Construction Lasts

This is going to be the third commercial gaming venue in the state. As the constriction of the property lasts, however, the company will be able to operate a temporary casino out of Platte County Agricultural Park in Columbus. The permanent venue is expected in 2024.

Caesars Entertainment and local investors spent a considerable amount to ensure that the project will come to fruition. The project has cost $75 million and the casino will cover an area of 40,000 square feet. Right now, the casino is supposed to commence operations with 500 slot machines and 20 table games, but expansions may be available later on.

The casino and hotel will be managed separately, with the gaming floor falling within the remit of a local partner whereas the hotel will be run by Marriott International. The temporary property is set to open on Monday, June 12, at 9 am. Harrah’s Nebraska is already looking up to fill various positions and ensure that its project is feasible.

Meanwhile, Nebraska has seen a mounting interest in casinos with WarHorse Casino Lincoln opening back in September and the Grand Island Casino at Fonner Park launching in December. The quick succession in openings is indicative of the state’s increased and sustained interest in gaming as well as the liberalization of the activity.

Expansion in Nebraska’s Casino Landscape Continues

WarHorse is presently to also expand its reach with a new $300 million project, the WarHorse Casino Omaha at Horsemen’s Park, which will be forthcoming either later this year, or as a more likely timeline puts it – in 2024. The fact that there have been so many casino projects recently is not surprising at all.

The state voted to back commercial gaming during the November 2020 election and essentially expanded racetrack casinos to Vegas-style casino resorts that feature slots, sports betting and table games, a major stride forward for the state which has long pushed back against the idea of expanding regulated gambling in any capacity. Things are now changing with Harrah’s Nebraska almost on the horizon.  

The post Harrah’s Nebraska Clears Licensing Process, Opens in June appeared first on Keno Wizard.

The move comes as the Spelinspektionen, the country’s regulator, is preparing to issue changes to the regulatory landscape. Stakelogic, and the company’s subsidiary, Stakelogic Live, join a fleet of companies to have successfully received a license from the regulator, which will allow the company to continue serving the important European market and provide authentic and high-quality content to local players.

Stakelogic to Continue Providing Slots and Live Games

As a result, Stakelogic will continue to deploy a mix of its games, including the company’s classic slots that have focused on harking back to the traditional gambling experience, that involves nostalgic symbols, such as BARs, Bells and 7’s.

All of this is done with sound core mechanics that guarantee strong engagement and player retention, with popular features such as Free Spins, Multipliers and Wilds underpinning the experience. Commenting on this important milestone, Stakelogic CEO Stephan van den Oetelaar said:

Our games have really hit the mark with players in Sweden, and securing approval from the regulator means that we can continue to offer our slots and live content to operators and their players once the expected regulatory change comes into force.

Stakelogic CEO Stephan van den Oetelaar

The executive reiterated that Stakelogic remains laser-focused on regulated markets and is interested to bring the highest-grade products to local audiences with the best operators in each jurisdiction.

Some of the games Stakelogic already has on the market include Multi6Player, Big Runner Deluxe, Multi4Player, and others. Besides the classics, players in Sweden will keep discovering some of the most popular video slots by the company, including Greedy Fox, Spartans Vs Zombies Multipays, Devil’s Trap, Diamond Staxx Multipays and more.

Stakelogic is also happy to continue offering some of its outstanding live casino games, named European Roulette, American Blackjack, and more original takes, such as Runner Runner Roulette 5000X. There are also Live Game shows that Stakelogic will continue to provide to partner operators in the market.

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