CURAÇAO TAKES MAJOR STEP FORWARD WITH LOK PASSAGE
The Curaçao parliament has officially passed the National Ordinance for Games of Chance (LOK), introducing a revised regulatory framework that aims to modernize the country’s gaming industry. This landmark legislation marks a historic shift in Curaçao’s gambling oversight, replacing the outdated master licence system with a new structure designed to enhance transparency, compliance and credibility.
The passage of LOK, approved on the 17th of December by a majority vote of 13 to six, was celebrated as a significant achievement for the Curaçao Gaming Control Board (GCB). Aideen Short, PR and marketing consultant for the GCB, described the moment as a “great day for our industry.” The legislation will come into force once the governor signs it into law, which is anticipated to happen within the coming week.
With the new law in place, the GCB will evolve into the Curaçao Gaming Authority (CGA), a move aimed at strengthening its supervisory framework and reinforcing its authority over licensing and compliance. The GCB expressed satisfaction over this development, emphasising that the legislation sets the foundation for a “modern and robust” regulatory environment.
The changes are expected to bring enhanced transparency, stronger licensing enforcement and rigorous Anti-Money Laundering (AML) compliance, alongside a renewed focus on responsible gaming.
Minister of Finance Javier Silvania, who has been a driving force behind the reforms, previously described the LOK as a “safety net” to safeguard the jurisdiction from unlicensed and unethical practices.
During budget discussions in December, Minister Silvania revealed that the GCB had already granted 220 licences under the interim system generating 15 million guilders in fees, of which 12 million guilders have been received by the government. With 553 applications pending and 279 new submissions awaiting processing, the GCB expects to approve a total of 600 licences by the end of Q1 2025.
Revenue projections for 2025 under the new LOK framework reflect this growth, with 30 million guilders expected from online gaming licences and 10 million guilders from land-based casinos. Minister Silvania noted that the new licensing system will enable the CGA to cover its operational costs, build reserves and achieve financial independence in line with recommendations from the Council of Advice.
For its part, the GCB remains optimistic about the future. “We are eager to collaborate with all stakeholders, both local and international, to build a stronger and more sustainable future for Curaçao,” the GCB stated.
The GCB also addressed allegations of corruption within the licensing process, reaffirming its sole authority over granting, amending and revoking licences.
“The GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licences, as well as attach terms and conditions to licences,” the regulator clarified in response to recent criticism.
As Curaçao finally turns the page on the past and moves onto the next chapter, stakeholders across the industry are watching closely, as the successful implementation of the LOK is expected to greatly benefit both the jurisdiction and the industry as a whole.
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