Curaçao Approves LOK: A New Era for Gambling Regulation
- IGC Advisory
- Feb 28
- 2 min read
Updated: Mar 5
On Tuesday, December 17, Curaçao’s parliament approved the National Ordinance for Games of Chance (LOK) with a majority vote of 13 to six. This new regulatory framework replaces the existing master licence system and establishes a stricter gambling licensing process.
Despite facing delays due to a surge in licence applications, the Curaçao Gaming Control Board (GCB) successfully met its Q4 2024 target for implementing the legislation. During recent budget discussions, Minister of Finance Javier Silvania revealed that thousands of online gambling licence applications had been submitted, with 220 licences already granted. The GCB anticipates that around 600 companies will receive authorisation by the end of Q1 2025. The budget was finalized and passed on December 13.
Key Objectives of the LOK
The new legislation eliminates the previous master licence model, requiring all existing licensees to reapply under the updated system. One of the main goals of the LOK is to improve Curaçao’s reputation, addressing concerns about the jurisdiction being a hub for grey market operators. Minister Silvania has described the reforms as a necessary “safety net” against unlicensed gambling activities.
The LOK introduces multiple application categories for B2B, B2C, and B2B2C operators. However, Curaçao Gaming Control Board chairman Pietersz noted in July that many applications were initially rejected due to missing documents and failure to meet the new regulatory standards. He emphasized that the clarification process often results in delays, as incomplete submissions require further review and resubmission.
With the implementation of the LOK, Curaçao aims to establish a more transparent and reputable gambling sector, ensuring compliance with international standards while attracting legitimate operators.
Why Curacao is no longer the best option?
Major Downsides of Curacao’s New Licensing Regime
1. Unprecedented Delays and Bureaucratic Gridlock
The Curaçao Gaming Authority (CGA) is understaffed and overwhelmed with thousands of licence applications, causing months-long backlogs.
The transition from the old NOOGH system to LOK has left many operators in limbo, unable to launch on time.
There is no clear timeline for processing pending applications, frustrating both new and existing operators.
2. Increased Fees with No Clear Benefits
The cost of a Curaçao B2C licence has nearly doubled to €47,450 annually.
By comparison, alternative jurisdictions like Anjouan offer licences at a fraction of the cost, with no gaming tax.
Many operators feel the increased fees do not come with significant regulatory improvements or benefits.
3. Regulatory Uncertainty and Lack of Expertise
Unlike Malta or the Isle of Man, Curaçao has no established track record of strict regulatory enforcement.
There are concerns that the newly formed CGA lacks the experience and resources needed to regulate the industry effectively.
Unclear regulatory expectations could lead to further delays and compliance issues for operators.
4. Negative Reputation and Limited Market Access
Curaçao has long been considered a high-risk jurisdiction by financial institutions and payment processors, leading to banking restrictions.
Countries such as the Netherlands and Germany have blacklisted Curaçao-licensed casinos, making it harder for operators to attract players from key markets.
With the introduction of LOK, it remains uncertain if Curaçao will shed its grey-market reputation or continue facing regulatory hurdles internationally.
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