The Curaçao Gaming Control Board (GCB) has issued comprehensive guidelines for operators ahead of a March 31 deadline. This deadline marks a critical juncture for operators, as registration for sub-licenses on the GCB’s portal will cease, and applications for direct licenses under the current legislation, the National Ordinance on Offshore Games of Hazard (NOOGH), will no longer be accepted.
All operators who wish to continue to operate in Curaçao’s market must register by this date. The guidelines, detailed in a nine-page document, aim to provide operators with clarity and guidance. Among the key provisions outlined in the guidelines is the requirement for operators to ensure completeness and accuracy in their license application submissions.
This includes submitting three fully completed forms: the online gaming application form, the personal history disclosure form, and the corporate and business information form.
Furthermore, operators must adhere to specific conditions and policies set forth by the GCB, including compliance with anti-money laundering (AML) and know-your-customer (KYC) procedures. Failure to comply with these regulatory requirements could result in legal consequences for operators.
These guidelines are released amidst efforts to combat misinformation surrounding the transition to the new regulatory framework. Curaçao’s Minister of Finance, Javier Silvania, has emphasized the need for accurate information dissemination from authoritative sources.
“Amid this entire process we have been all too aware of a significant amount of misinformation, confusion and accuracy and I strongly urge against the further propagation of unverified rumors or speculation,” said Silvania in January. “Full and accurate information can only be guaranteed when issued by either the ministry [of finance] itself or the Curaçao Gaming Control Board.”
The transition to the new regulatory framework began in September last year, with the initiation of the application process through the GCB’s online portal. Efforts to communicate the benefits of the new regulatory regime, including providing a framework that addresses concerns related to AML and KYC procedures, have been ongoing.
The guidelines focus on registrations under the NOOGH instead of the incoming National Ordinance for Games of Chance (LOK), which is currently moving through Curaçao’s parliament. Once the LOK is in play, the Curaçao Gaming Authority (CGA) will become the jurisdiction’s regulator and all licenses will be issued under it.
Original article: https://www.yogonet.com/international/noticias/2024/03/18/71292-curacao-gaming-control-board-issues-march-31-deadline-for-online-gaming-licensing
