Curaçao's Gambling Revolution: GCB Portal Opens for Licensing and Regulation

In a significant development for Curaçao's gambling industry, the Gaming Control Board (GCB) portal officially opened its doors on 1st November. While it initially contained license application forms and guidance on the application process, aspiring candidates had to wait until this date to commence the registration process.

The GCB portal serves a dual purpose: processing new applications under the existing legislation with the GCB and registering all sub-licensees who intend to continue their operations following the enactment of the National Ordinance for Games of Chance (LOK). The introduction of LOK will pave the way for the establishment of the new Curaçao Gaming Authority (CGA).

As of today, prospective applicants can register for an account on the GCB portal for five key functions, including account management, sub-license registration, gaming applications, license management, and the ticketing system.

For those eager to submit their completed applications, the window opens on 15th November, providing a 15-day period for account verification before uploading the application.

To qualify as a verified account, applicants must be registered under a Curaçao company's name and use a unique email address associated with that company. A signed letter of authorization from the Ultimate Beneficial Owner of the company is also required, ensuring their awareness of the application being made on their behalf. The GCB will rigorously verify this information before allowing the submission of the completed application.

Successful license applicants will receive an interim Curaçao license, offering them six months to provide any further necessary documentation.

This development marks a pivotal moment for Curaçao's gambling market, as highlighted by Dr. Javier Silvania, the Minister of Finance, who stated, "The 1st of November 2023 will be noted as a momentous day in the history of Curaçao's position as a gambling jurisdiction." He described it as a crucial step in the ongoing process of revolutionizing the country's gambling landscape.

Aideen Shortt, an advisor to the Minister of Finance, commented on the enthusiasm of applicants, saying, "We've been like children waiting for Santa Claus, and we weren't disappointed – by 00.01 this morning we already had multiple accounts opened, and the traffic is continuously increasing. This is already exceeding our highest expectations."

This milestone signifies the next stage in Curaçao's journey toward implementing the LOK. The jurisdiction is currently in a transition period, preparing for the new regulatory regime, which will overhaul Curaçao's current gambling regulations.

Back in September, Minister Silvania referred to the LOK as a "safety net" against greylisting, noting that Gibraltar's presence on the Financial Action Task Force's (FATF) grey list and its status as a "major gambling hub" influenced FATF's decision.

By fLEXI tEAM