Compliance Updates

Fees and Collection Policy from Curacao GCB

Published

2 months ago

September 23, 2024

Adrienn Sarkany

Reading Time: 2 minutes

Introduction

Effective immediately this document outlines the fees and collection terms pertaining to a gaming licence issued and operated by the Curacao Gaming Control Board (the “GCB”) under the NOOGH legislation.

The GCB reserves the right to amend this policy at any time.

Fees

License fee

Non-refundable NAF 36,000 on license grant and annually on each anniversary thereafter Monthly fee of NAF 7,000 plus any “per-domain” fee that is applicable.

Certificate of Operations: Orange Digital Seal

The sub-licensee authorized to display the temporary Orange Digital Seal must pay a non-refundable fee of NAF 28,000. For operators who use the Orange Digital Seal, this payment will be deducted from the license fee invoice issued upon approval by the GCB,

General Info

In the event that an operator wishes to pay the full license fee annually in advance, the GCB will accommodate this.
Fees are due for any licensed operator regardless of any ongoing private commercial agreement that the entity may have with a Master License holder. For the avoidance of doubt having an active sub-license at the time of being issued a direct license by the GCB does not exempt the operator from its financial obligations to the GCB,.
Fees will be invoiced in EUR, using the exchange rate published by the Curacao Central Bank on the date of the invoice.
Fees can be paid in EUR or USDT stablecoin.

License Issuance

Once a license is approved, notice will be provided to the local director of the applicant entity. Notice shall be issued in the form of letter sent by email to the official email address registered on the GCB Portal.
Notice of license approval shall be accompanied by an “Initial Invoice of NAF 36,000, which is payable in full prior to formal granting of license, along with the first “Monthly Invoice” which is payable subject to the terms in the section below entitled Monthly Fee.
The license will be formally granted and added to the license register on the GCB site upon receipt of payment of the Initial Invoice
Operators are not permitted to use the Green Digital Seal on their domains prior to the on formal license grant.
Under Curacao legislation stamp duty is payable in the amount of NAF 60, in local currency. is The local bank account is provided to the local director in the approval email.
Hard copy license issued by GCB to the local director on payment of the stamp duty at the GCB registered office.
Soft copy license of the license can be downloaded from the GCB portal.

Invoicing and Collection

Initial Invoice

1. Payable in full within 5 calendar days.

2. In the event that it is not paid within 5 calendar days, the local director will be contacted by GCB Finance Department with notice that non-payment after further 5 calendar days will result in the formal rejection of the application.

3. Rejection for non-payment of Initial Invoice will be processed on the GCB licensee portal, published on the GCB website.

Compliance Updates

IAGR confirms new Board members

Published

8 hours ago

November 14, 2024

George Miller

Reading Time: < 1 minute

The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGR’s global regulatory efforts:

Anders Dorph, Danish Gambling Authority (Europe)
Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)

IAGR President Ben Haden said, ‘I’m delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.

‘I look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.

‘We also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and I’m pleased to announce that Jason Lane will continue for another term as a Trustee.’

As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.

In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.

Compliance Updates

MGA Issues First ESG Code Approval Seals to Licensees

Published

3 days ago

November 11, 2024

Niji Narayan

Reading Time: < 1 minute

The Malta Gaming Authority (MGA) has awarded its first-ever ESG (Environmental, Social and Governance) Code Approval Seals to licensees in the online gaming sector, marking a milestone in the Authority’s commitment to promoting responsible and sustainable industry practices.

This initiative follows the launch of the voluntary ESG Code of Good Practice last year, which invited licensees to submit their ESG disclosure returns. The Code, which covers 19 topics categorised under Environmental, Social and Governance pillars, offers a strategic roadmap for online gaming companies to streamline their reporting efforts.

Following the first annual reporting cycle, 14 gaming operators have been awarded the ESG Code Approval Seal. The Code supports two levels of reporting: Tier 1, which establishes foundational ESG standards, and Tier 2, which represents a more aspirational approach.

Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.

“We believe this initiative will significantly enhance the industry’s reputation and sustainability credentials,” MGA CEO Charles Mizzi said.

“By integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.”

Compliance Updates

Turkish Football Federation to Penalise Clubs Promoting Illegal Betting

Published

3 days ago

November 11, 2024

Niji Narayan

Reading Time: < 1 minute

The Turkish Football Federation (TFF) has introduced new regulations to crack down on illegal betting advertisements in professional football.

According to the TFF, clubs found violating the new rules will face fines and, in case of repeated offenses, the deduction of points.

Under the updated guidelines, any club in the Turkish Super League involved in unauthorised betting promotions will face a tiered penalty system.

The first violation will result in a fine of 2 million Turkish Liras (around $58,000), and the second offense will incur a 5 million lira fine and a third violation will see the fine increased to 10 million liras. For subsequent breaches, clubs will be fined 10 million liras for each offense, along with a three-point deduction from their league standings.

“It is forbidden to promote or advertise betting organizations not licensed by competent authorities. This includes any media, billboards and other equipment used within stadium,” the TFF stated.

The TFF emphasised that the ban also applies to entities affiliated with these betting organisations, including those involved in promoting and advertising activities in a way that suggests endorsement of illegal betting.

The global scale of the illegal betting market is staggering, with the United Nations Office on Drugs and Crime estimating its worth at $1.8 trillion. In Türkiye alone, the sector is projected to exceed 100 billion liras, according to the Financial Crimes Investigation Board.