Curaçao Finance Minister Addresses LOK Bill Misconceptions

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.

“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.

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.