Curacao's New Gambling Legislation: LOK and the Curacao Gaming Authority (CGA)
Curacao Parliament Adjusts Gaming Legislation amidst Licensing Controversy
Say hello to a major shift in Curacao's gambling landscape! Their parliament has passed the LOK legislation (National Ordinance on Games of Chance), paving the way for a brand-new gambling legislation system.
This transformation involves ditching the Good Curacao Broadcasting (GCB) and replacing it with the Curacao Gaming Authority (CGA). This change aims to polish Curaçao's tarnished reputation in the gambling world.
What's Changed?
Let's break it down:
- Centralized Control: The old master/sub-license system is out, and direct licensing through the CGA is in. Now, the CGA issues licenses, audits compliance, and enforces regulations.
- License Categories: Four licenses are now available: gaming, supplier, nonprofit gaming, and service provider certificates. Each serves a specific purpose in the gaming industry.
- Transition Period: Existing license holders have 12 months to adapt to the new system or face license revocation.
The CGA's New Role
The CGA is stepping up its game:
- Stricter Compliance Requirements: The CGA will now demand alignment with Anti-Money Laundering (AML) and Know Your Customer (KYC) standards. Plus, it will enforce responsible gaming measures, such as deposit limits and self-exclusion tools, and require regular audits.
- Inspiration from Malta: The new framework draws heavily from Malta's regulatory model, incorporating features like mandatory compliance officers and due diligence fees for individuals.
All these changes position the CGA as a centralized, Malta-style regulator, aiming to boost Curaçao’s credibility in international gambling markets.
Lucas Dunn is a New Jersey-born and raised copywriter who specializes in casino, software provider, and game reviews, news, and blogs. With over six years of experience and clients from various global locations, Lucas brings a wealth of knowledge to the gambling industry. Before focusing on writing, Lucas attended Rutgers University to study psychology and dabbled in painting, following in his father's footsteps. Now, he splits his time between writing and painting.
[1] Curacao Gambling Authority website
[2] IGaming affiliate
[3] GGC
- Under the LOK legislation, Curacao's gambling industry is undergoing significant reforms, moving away from the Good Curacao Broadcasting and transitioning to the Curacao Gaming Authority (CGA).
- The new gambling legislation involves centralized control, with the CGA issuing licenses, auditing compliance, and enforcing regulations.
- Four license categories are now available in Curacao's gambling industry: gaming, supplier, nonprofit gaming, and service provider certificates.
- A transition period of 12 months has been set for existing license holders to adapt to the new system, or face license revocation.
- The CGA is implementing stricter compliance requirements, including alignment with Anti-Money Laundering (AML) and Know Your Customer (KYC) standards, responsible gaming measures, and regular audits.
- A copywriter named Lucas Dunn, known for his work in casino, software provider, and game reviews, lives in New Jersey and has clients from various global locations, showcasing the international reach of the gambling industry and the role of individuals like him in shaping casino-culture and gambling-trends within the general news and policy-and-legislation landscape of casino-and-gambling.
