Curacao’s Old Licenses Expire Amid Major Regulatory Overhaul
Curacao’s licensing system is undergoing a major transformation, leading to the expiration of many old licenses.
As of August 2024, some of the long-standing "Master License" issuers, like Curacao Gaming, have ceased operations. This marks a significant shift as the island's gambling industry transitions to a new regulatory model.
The first digital certificates expired in August, with the rest expected to expire by January 2025. This change is part of Curacao's complete licensing system overhaul. Previously, the country allowed multiple entities to issue sub-licenses. Under the new system, all licensing matters will now be handled by the newly created Curacao Gambling Control Board (CGCB).
The transition means that existing master and sub-licenses are being phased out. Although new licenses have been available since early 2024, high demand and incomplete applications have led to some extensions for operators holding older licenses.
Tighter Control and More Transparency
Curacao's more relaxed licensing model came under scrutiny during the COVID-19 pandemic, when the Netherlands pushed for reforms in exchange for financial aid. In response, Curacao agreed to completely restructure its gambling regulations.
In 2023, Curacao's parliament passed the National Ordinance for Games of Chance (LOK), forming the basis for these reforms. The old master-sub-license system is being replaced by a central authority, the Curacao Gambling Control Board. This new law also introduces stricter controls for operators and game developers, aiming to improve trust and transparency in the gaming sector.
The stricter rules have caused challenges for some operators. Despite the 12-month transition period, not all companies have been able to meet the new requirements. Some have had to surrender their licenses due to unresolved compliance issues. By early 2025, the CGCB expects the new framework to be fully in place, offering greater clarity and stability.
Curacao's Licensing Future Looks Promising
The reforms are being rolled out gradually through 2024 and 2025. Curacao's regulators are committed to improving the reputation of the island’s gaming licenses, both with the public and in the global iGaming market.
The stricter regulations could also attract operators that previously avoided Curacao due to its looser licensing model. Major international gaming companies, which have generally steered clear of Curacao licenses, may now be more inclined to consider the island's new system.
As these changes take effect, Curacao is positioning itself as a more respected and trusted licensing hub, offering a better-regulated and more credible option for operators. The future looks brighter for Curacao’s gaming industry as it evolves into a more transparent and reputable jurisdiction.