WILLEMSTAD – The Curaçao Gaming Control Board (GCB) is experiencing significant delays in processing gambling license applications due to a substantial surge in demand.
GCB managing director Cedric Pietersz revealed that the regulator received 740 online gambling license applications during its first application window, which closed in April. He expects an additional 300 applications in the coming months as part of the latest licensing window that opened in July.
“We need to ramp up our internal processes and resources to handle so many applications,” Pietersz stated. “Currently, we are processing about 10 applications per week, but we aim to increase our capacity to 20 or 30 applications weekly.”
Pietersz acknowledged potential delays as the regulator prepares new legislation. “From a regulatory standpoint, transitioning a regime should be as short and effective as possible. However, dealing with numerous parties can make the process tricky,” he added.
The influx of applications is partly due to Curaçao’s new regulatory framework, the National Ordinance for Games of Chance (LOK), established in September 2023. The new framework requires three forms: the online gaming application form, the personal history disclosure form, and the corporate and business information form. The current master licenses will expire on August 31 and will be abolished under the new regime, causing confusion among applicants and contributing to the delays.
“[Master license holders] understand why we need to change. The GCB aims to be their partner in this process,” Pietersz said. “They have built a brand and a reputation, but they need to adjust their business approach.”
The GCB is now accepting applications from B2B, B2C, and B2B2C operators. However, the quality of applications has been suboptimal, with many being returned due to missing documents, further delaying the process.
To expedite the licensing process, the GCB has maintained constant communication with current license holders to assist them in re-applying. Pietersz emphasized the importance of continued communication in speeding up the process.
The new regulations aim to improve Curaçao’s reputation as a haven for grey market operators. The GCB’s new enforcement function will hold operators accountable for not complying with the rules. “It will take effort for the operators to adjust, but from the GCB’s side, we are also setting up an enforcement function—not exactly to punish operators, but we will if necessary,” Pietersz said.
Curaçao’s Minister of Finance, Javier Silvania, previously stated that the LOK would act as a “safety net” against unlicensed operators. The GCB is confident in its ability to uphold regulations, leveraging its contacts with foreign regulators to address complaints and enforce compliance.
One notable case involved Curaçao-licensed betting operator Bovada, which operated illegally in various US states before being blocked by Michigan and Colorado earlier this year.
Bron: Curacao Chronicle
Naschrift KKC
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