Industry News
Navigating the New Horizons: Recent Shifts in Curacao’s Gambling Landscape
In 2020, the Dutch Government introduced a series of reformative mandates for Curacao, a major one being a significant overhaul of the island’s online gambling regulations. These regulations, presently overseen by the master license holders, are recognised worldwide for the ease of obtaining a license within a quick timeframe. They are distinguished by a low fee structure, limited requirements, and an absence of extensive oversight. Nonetheless, the proposed modifications by the Curacao government are poised to remodel this landscape profoundly.
Proposed Changes
The impending reforms propose the establishment of a new Curacao regulator which has been welcomed by many. This body will bear the responsibility of supervising all gaming operations and licensing. Additionally, it is thought that the new body will introduce both B2C and B2B licenses for operators. Further proposed changes include the mandatory hiring of local personnel for critical roles based on the island and the introduction of strengthened anti-money laundering monitoring and control measures.
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Latest Developments
On the 22nd of June 2023, while addressing an audience in Malta, Javier Silvania, the Minister of Finance for Curacao, announced the formation of a fresh regulatory body called the “Curaçao Gaming Authority” (CGA). It is anticipated that the CGA will start granting new licenses from the 1st of September 2023. The establishment of this authority has taken more time than originally projected by the Curacao officials. However, the comprehensive regulatory framework, dubbed “The National Ordinance on Games of Chance (LOK)”, is now completely prepared. At the beginning of June, it was put forward to the Council of Advice, marking the last step before it heads to the Parliament for approval.
It is our understanding that there will be an obligation for the new license holders to enhance their physical presence in Curacao. This modification, which has been the subject of intense speculation for the past six months, is not likely to shock many. The on-ground presence would necessitate the hiring of at least one local individual, which would eventually increase to a minimum of three people within a span of five years. Beyond local staffing, it’s expected that operators will need to secure office space either through purchasing or leasing. This space must be solely used for the execution of the business operations associated with their gaming license.
Political Pressures
The latest development comes in the wake of a Q&A article published by the Curacao Chronicle. In early June the piece featured a conversation between VVD members Roelien Kamminga and Ruben Brekelmans, who asked the Dutch Minister of Foreign Affairs, Wopke Hoekstra, several questions. One of their inquiries was, âWhat actions have been implemented in recent years to augment the oversight of gambling companies in Curaçao?â
In response, Hoekstra explained, “The Curaçao government is actively pursuing these measures through the formulation of new gambling legislation, which includes the cessation of the master-sub-license system. The forthcoming law envisions a new gambling regulator, empowered with greater authority than the existing one. The regulator is also expected to supervise the offshore gambling sector within the country.”
He added, “The goal is to have these reforms fully implemented by the end of 2023.”
On the 22nd of June 2023, the Minister of Finance in Curacao confirmed that the country aims for the new regulatory framework to “reverse” the country’s current reputation. His intention is to achieve this by demanding “enhanced due diligence” and introducing greater transparency regarding the origins of the operators’ funds.
Currently Licensed in Curacao?
For existing online gambling license holders in Curacao and those contemplating Curacao for their licensing needs, the implications of these changes may provide uncertainty. Given the transformative nature of these changes, some operators may find it advantageous to find a new jurisdiction for their operations.
Director of Global Gaming Solutions, Mark OâNeill, adds âOne jurisdiction that is continuously viewed as a progressive move from Curacao is the Isle of Man. Known as a premier jurisdiction and a famous centre for online gambling, it is the operational base of choice for numerous significant gambling operators. The Isle of Man license is reputable and helps operators surmount challenges related to banking, payment services providers, and software suppliers. The licensing framework there offers a comprehensive umbrella license that can be secured within a 12-week period from application submission to hearing.â
To find out more, please visit the Global Gaming Solutions website via www.globalgaming.solutions or should you wish to speak to the team directly, please contact [email protected].
Industry News
Explore the future of gaming at ICE Barcelona: 20 â 22 January 2025
Explore the future of gaming at ICE Barcelona: 20 â 22 January 2025
Join the most influential gaming industry professionals from throughout the world when ICE opens at Fira Barcelona Gran Via, 20 â22 January 2025. The first edition of the world-leading business event to be held outside the UK will feature a record 1,000 exhibitors following unprecedented demand for space from world gamingâs leading innovators covering every sector and every jurisdiction.
ICE and the co-located iGB Affiliate – which will occupy 120,000 square metres compared to the 100,000 sqm used in London â connect the entire global industry and provide access to the very latest cutting-edge innovations, technological solutions, regulatory updates, and insights which assist entrepreneurial businesses to enter new jurisdictions and build market share.
ICE is the event where the industry launches tens of thousands of game-changing, landmark products and where visitors can explore the future of gaming. For more information on the event where the world of gaming goes to do business and to register: icegaming.com
Casino Games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Groupâs proprietary technology and platform, the launch marks a significant step in the brandâs international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Groupâs proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said âWe are thrilled to launch BetMGM in the Netherlands and build on BetMGMâs successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.â
Gustaf Hagman, Group CEO at LeoVegas Group, said âOur launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.â
Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5Ă3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
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