Connect with us

Regulation

Curaçao Finance Minister Addresses LOK Bill Misconceptions

Published

on


Javier Silvania Tackles Misinformation about Curaçao’s New Gambling Law

Curaçao’s Finance Minister Javier Silvania has issued a pivotal statement addressing misinformation around the island’s impending gambling law, the National Ordinance for Games of Chance (LOK). The LOK, poised to revamp the regulatory landscape, entered parliament in December, marking a significant transition from the existing National Ordinance on Offshore Games of Hazard (NOOGH).

Clarifying Legislative Misconceptions

Silvania highlighted that while the submission of the LOK sparks widespread debate, there is a need for accuracy in public discourse. He emphasized the role of the Ministry of Finance and the Curaçao Gaming Control Board (GCB) as the sole sources of verified information.

“Amidst the ongoing legislative process, the spread of unverified rumors or speculation must be curbed. Official updates and accurate information are only assured when issued by our Ministry or the GCB,” said Silvania.

Upholding Current Licensing Standards

The Minister further clarified that the existing license issuance process under NOOGH remains intact. This confirmation underscores the continuity of the Critical Milestones published on December 20, 2023, during the transition to the LOK.

Advertisement

“The GCB, operating under delegated authority from the Ministry, remains steadfast in its commitment to the existing processes until the LOK’s enactment. Any claims to the contrary are not only misleading but irresponsible,” Silvania added.

Transitioning to the New Framework

A vital milestone in the transition is March 31, 2024. Post this date, the registration of sub-licenses on the GCB portal and applications for direct licenses under NOOGH will cease. Additionally, the Ministry will not entertain new extensions or renewals of Master Licenses beyond this point.

Renewing Licenses and Introducing Digital Seals

The GCB has renewed all gambling licenses in Curaçao, with the first set to expire in August 2025 and the last in January 2025. Starting January 1, 2024, license holders can display a Digital Seal on their websites, with the GCB releasing a dedicated policy on these seals in due course.

The GCB initiated the operator application process on September 1, 2023, through its online portal, accepting account registrations for applicants and sub-license holders from November 1.

Advertisement

This comprehensive approach by Minister Silvania and the GCB highlights their commitment to a transparent, regulated, and responsible gaming environment in Curaçao. The focus is on ensuring that all stakeholders are well-informed and that the transition to the new legislative framework is smooth and efficient.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Legislation

Unveiling North Carolina’s Thriving Sports Betting Frontier

Published

on


North Carolina Sports Betting: Latest Updates, Opportunities, and Market Outlook

Embark on a journey into the heart of North Carolina’s dynamic sports betting realm, where excitement mounts as the state prepares for its highly anticipated online wagering debut. Against a backdrop of regulatory milestones and strategic partnerships, Gamingo News delves into the latest developments shaping the landscape, offering insights into the opportunities and challenges that lie ahead for stakeholders in this burgeoning market.

Anticipating Launch: Unveiling the Go-Live Date

Momentum Builds With the countdown to online sports betting in North Carolina underway, anticipation reaches fever pitch as the North Carolina State Lottery Commission sets the stage for a momentous milestone. Marking 11th March as the go-live date, players eagerly await the opportunity to engage in exhilarating wagering experiences from the comfort of their homes. However, the excitement doesn’t end there, as prospective bettors can initiate account registrations and fund their accounts starting from 1st March, setting the stage for a seamless transition into the realm of online sports betting.

Regulatory Framework: A Pivotal Pathway

Legislative Foundations The journey towards legalized sports betting in North Carolina traces back to the enactment of House Bill 347, a seminal piece of legislation signed into law by Governor Roy Cooper on 14th June. Embedded within the bill is a meticulously crafted timeline, delineating the roadmap for implementation and regulatory compliance. Mandated deadlines underscore the state’s commitment to fostering a robust and transparent regulatory framework, ensuring the integrity and accountability of the burgeoning sports betting market.

Navigating Regulatory Updates: Insights from the Commission

A Closer Look Recent developments unfold as the North Carolina State Lottery Commission takes center stage, issuing pivotal updates that shed light on the evolving sports betting landscape. With a deadline of 26th January for operator submissions of internal controls, speculation abounds as stakeholders await the Commission’s verdict. This week brings a wave of anticipation as the Commission issues two full sports wagering supplier licenses, alongside seven provisional licenses, signaling a flurry of activity as the market gears up for the much-anticipated launch.

Advertisement

Promoting Responsible Gaming: The Role of Self-Exclusion Programs

Safeguarding Player Welfare Amidst the fervor surrounding the impending launch, the North Carolina State Lottery Commission takes proactive strides towards promoting responsible gaming practices. Approval of a voluntary self-exclusion program underscores the state’s commitment to mitigating gambling-related harm and fostering a safe and supportive gaming environment. Empowering players with the option to self-exclude for varying durations, the program serves as a vital resource for individuals seeking to exercise greater control over their gambling habits, reinforcing the principles of accountability and player welfare.

Operator Partnerships: Forging Pathways to Success

Strategic Alliances Against a backdrop of regulatory rigor, operators vie for market entry, solidifying strategic alliances to carve out their niche in the burgeoning North Carolina sports betting landscape. From industry stalwarts like Caesars Entertainment, bolstered by key partnerships with the Eastern Band of Cherokee Indians, to emerging players such as DraftKings and BetMGM, a diverse array of operators converge to capitalize on the state’s burgeoning market potential. With the Commission working in tandem with eight operators to expedite licensing procedures, the stage is set for a transformative debut come 11th March.

Embracing the Future: Towards a Thriving Sports Betting Ecosystem

Charting New Horizons As the countdown to go-live date intensifies, North Carolina stands poised to usher in a new era of sports betting innovation and accessibility. With regulatory frameworks firmly in place and strategic partnerships abound, stakeholders stand at the cusp of a transformative journey, brimming with opportunities for growth and innovation. With 11th March marking a watershed moment in the state’s gambling landscape, the stage is set for North Carolina to emerge as a beacon of excellence in the realm of online sports betting, setting new benchmarks for industry standards and player engagement.

Advertisement

Continue Reading

Trending

Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at: sales@gamingo.news

For editorial or PR submissions, contact: media@gamingo.news

Copyright © 2024 Gamingo.News.