money_gate
GBO is a leading Curacao gaming service provider attending in conferences world-wide
WhatsApp us: +972504938469, email us: info@gbo-il.com
The Government of Curacao is actively developing the Landsverordening op de Kansspelen (LoK) to regulate all games of chance. This comprehensive legislation aims to update existing laws, address social and technological advancements, and establish an independent gaming authority responsible for enforcing rules and combating gambling addiction.
The Curacao LoK 2023 introduces general provisions applicable to all games of chance offered in or from Curacao, covering areas such as prohibited gambling activities, licensing procedures, responsible gambling practices, and robust enforcement mechanisms. The Curacao Gaming Authority (CGA), an independent administrative body, will oversee license granting, law enforcement, and impartial supervision across all games of chance.
With the ability to regulate specific games of chance through national decrees, the government will initially focus on online gaming, paving the way for further sectoral regulations. By implementing this new legislation, Curacao aims to revitalize the online gaming industry, promote integrity, and enhance its global reputation.
The Social and Economic Council (SER) of Curaçao has provided its advice to the Minister of Finance on the revised version of the National Ordinance on Gambling, known as LOK 2023. The objective of LOK 2023 is to modernize the existing legislation, considering social and technological advancements. It seeks to establish an independent gaming authority to enforce regulations and address gambling addiction.
The newly formed gaming authority will implement LOK 2023 and any additional rules set forth by national decrees or regulations. The SER previously advised on an earlier version of LOK and the gaming tax bill (LOKS), stating that both bills did not adequately serve the purpose of modernizing the gaming industry, including online gaming.
The SER recommended careful coordination with the gaming industry, incorporating industry input with the assistance of tax advisors and financial experts. They emphasized the importance of a comprehensive vision and conducting an evaluation of the financial implications. Proceeding with caution and diligence, Curacao aims to shape the future of gaming regulation, promoting responsible practices and ensuring the industry’s growth.
Recommended for you
