The Key Changes: National Ordinance on Games of Chance (LOK)
The cornerstone of this reform is the National Ordinance on Games of Chance (LOK), which has already been presented to the country’s Council of Advice and is now on its way to parliament. The LOK gaming license is set to replace the current master and sub-license system, where only four master license holders are authorized to issue sub-licenses to operators.
Focus on Online Gaming and the Curaçao Gaming Authority (CGA)
While LOK 2023 introduces provisions applicable to all games of chance in Curacao, the government’s initial focus will be on online gaming. To ensure a smooth and secure regulatory environment, the LOK includes the establishment of the Curaçao Gaming Authority (CGA), an independent administrative body. The CGA’s role is to not only prevent but also mitigate any unwelcome and unlawful activities related to gambling.
Seamless Transition for Existing Operators
Minister Silvania reassured existing operators that they can continue their business without interruption during the transition period. To facilitate this process, the Gambling Control Board (GCB) will launch a dedicated portal to streamline the license application process. Moreover, Curaçao master license holders will receive a license extension of up to one year until the new gambling law is fully enforced.
Transition Period and New Licensing Framework
Application Process for New Licenses and How We Can Assist
From September 1, the Gaming Control Board (GCB) will begin issuing new licenses directly to operators. These new license holders will not be allowed to issue sub-licenses. We understand that navigating the licensing process might seem complex. However, we’re here to help you every step of the way.
Our team can assist you in completing the necessary forms and compiling relevant supporting documentation for a smooth application process. We’ll ensure your license application meets all requirements, including Know Your Customer (KYC) checks. Additionally, we adhere to the highest standards of player protection, AML procedures, KYC, responsible gaming measures, and information security.
Curacao’s gaming landscape is evolving. Securing your 2023 NEW License with LOK offers an opportunity to thrive in this dynamic market. Let us assist you in taking this exciting next step for your gambling business. Reach out to us today to learn more about our support and services.
Navigating the New Curacao Licensing Regime: What Operators Need to Know
The new Curacao licensing regime, including the LOK, brings important changes for both master license holders and sub-licensees. Operators must adhere to the new regulatory framework to continue operating in compliance. Understanding the transition process and ensuring your hosting infrastructure is aligned with these changes is crucial for ongoing success. For businesses navigating these updates, HostingB2B offers robust hosting solutions tailored to the evolving needs of the iGaming industry. Learn more about how HostingB2B plays a crucial role in supporting online communities and iGaming operators by reading our article on The Role of HostingB2B in Online Communities.
About Us:
HostingB2B is a company that has been operating in the Web Hosting industry for at least a decade, with High-Level Products and Services, which are specifically targeted at B2B (Business to Business).
A Premium hosting provider offering Managed or Unmanaged Servers, for Industries that require their services on a 24/7 basis as well as to be covered by any regulatory framework. HostingB2B offers its services in Cyprus – Malta – UK – Netherlands – UAE –, focusing especially on iGaming – ecommerce – Forex and Blockchain industries.
For more information:
Support Phone: +357 24 205888
Website: https://www.hostingb2b.com/
Email: sales@hostingb2b.com
24/7 Support Agent through our LiveChat
The post Introducing the New 2023 Curacao Gaming License appeared first on HostingB2B.