Curaçao’s Gaming Control Board extends licensing deadline
The Curaçao Gaming Control Board (GCB) has announced an extension to its licensing application deadline, following a slew of substandard submissions. The original deadline, set for 31 March , required existing sublicensees wishing to continue operations in Curaçao’s market to register. However, due to logistical difficulties faced by some applicants, the GCB has now extended the deadline to 30 April.
The GCB’s primary goal is to facilitate a smooth transition for sublicensees who wish to operate under Curaçao’s transitional and intended new statutory framework. The Minister of Finance has been clear from the outset that every possible measure would be taken to ensure business continuity for these sublicensees.
Despite these efforts, many applications have fallen short of the expected standards, resulting in processing delays detrimental to both the GCB and the applicant entities. The GCB has indicated that this will be the only extension granted, and applications currently in progress will continue to be processed.
Subpar applications prompt extension
In response to the low quality of many applications, the GCB issued submission guidelines in March. The regulator warned that subpar applications would result in processing delays, as the GCB would need to request additional information, amendments, or corrections. Applicants are required to fully complete three forms relating to the corporate applicant and upload all enclosures outlined at the end of each document.
The current application process is for direct licenses under Curaçao’s existing legislation, the National Ordinance on Offshore Games of Hazard (NOOGH). However, once Curaçao’s new gambling law, the National Ordinance for Games of Chance (LOK), comes into effect, licenses will be transferred.
Finance Minister Javier Silvania (pictured above), pointed out the importance of passing the legislation as soon as possible to combat money laundering and improve Curaçao’s finances in February. However, he also pledged to amend the proposed gambling law following criticism from various stakeholders, including members of parliament, the Curaçao Bar Association, and the Dutch government.
