Curaçao Amends National Ordinance for Games of Chance

These changes come amid ongoing efforts to reform the island’s gambling industry and enhance regulatory oversight.

Changes in Regulatory Requirements

Previously, the LOK mandated that all gaming lawyers be accredited by the CGA before engaging with licensees. However, the recent amendments have replaced this requirement with a new system. Instead of accreditation, gaming attorneys will now obtain three-year certificates from the CGA. Importantly, these certificates are not mandatory for lawyers to represent license holders.

Stakeholder Criticism

The decision to revise the LOK follows criticism from stakeholders, including the Curaçao Bar Association, which viewed the previous treatment of legal representatives as a violation of democratic principles. The Council of Ministers, responsible for the amendments, highlighted the collaborative effort involving various stakeholders, including the island’s parliament, Advisory Council, and the Dutch government’s Temporary Work Organisation (TWO).

Bolstering CGA Independence

In addition to changes in legal requirements, the amendments aim to enhance the independence of the CGA. Measures have been introduced to ensure the board of directors operates transparently and independently. Notably, the CGA will directly oversee the fees associated with gaming license applications, addressing concerns raised by the Advisory Council regarding compliance with international standards.

Background and Reform Efforts

These developments are part of Curaçao’s broader initiative to reform its offshore gaming sector. The LOK seeks to raise standards under the supervision of an empowered regulator. Currently, licenses are indirectly issued to sublicensees through master license holders, which has prompted calls for more direct oversight from regulatory bodies.

Criticism and Response

However, the introduction of the LOK has not been without its critics. Dutch State Secretary for Kingdom Relations and Digitalisation, Alexandra van Huffelen, questioned the procedure, stating that submitting the draft LOK to parliament before TWO’s review was incorrect. Despite this, Minister of Finance Javier Silvania and the Council of Ministers remain committed to the ongoing reform efforts.

Conclusion

The recent amendments to the LOK represent a significant step in Curaçao’s journey towards a more robust and transparent gambling regulatory framework. By addressing stakeholder concerns, enhancing CGA independence, and streamlining legal requirements for gaming lawyers, the island aims to position itself as a reputable jurisdiction in the global gambling industry.