After various delays, the Parliament approved the standard by 13 affirmative votes to six negative ones. The Minister of Finance, Javier Silvania, explained that the reform will generate significant revenue for the state coffers.
Curacao.- The Parliament of Curacao approved the new National Ordinance on Gambling that will regulate gambling operations abroad, known as Landsverordening op de Kansspelen (LOK). The parliamentary vote gave the right to the new standard, which was imposed by 13 affirmative votes to six negative.
The LOK revises the existing regulatory framework, effectively addressing long-standing concerns about the safety and oversight of online gambling.
The LOK will replace the previous model with two main types of licenses: B2B for service providers and B2C for operators dealing directly with players. Operators will now be required to establish a physical office in Curacao, reinforcing the jurisdiction's commitment to governance on the island.
On his social media, the Minister of Finance, Javier Silvania, the main promoter of the legislative reform, wrote: "Santa Claus came early this year. With the approval of the LOK bill, the people of Curacao finally got what had been denied to them for over 31 years! With the acceptance of the LOK, we have entered an era of economic rebirth. The projected revenues will give the Government the financial room to make a structured and sustainable start to eradicate poverty and address many of the challenges we have faced." In another post, Silvania published a newspaper article that defines the LOK as a gold mine for the country.
With 200 licenses already issued and another 1,000 applications pending, the revenues anticipated by the law have been allocated to social initiatives, such as increasing pensions and supporting sports programs. Among the highlights discussed in the enactment, it was agreed to allocate:
One of the most controversial issues is the transition from the Gaming Control Board (GCB) to the newly created Curacao Gaming Authority (CGA). The opposition has described this process as chaotic and costly, noting that the GCB is already struggling to manage the growing number of licenses. With inadequate staff and unclear regulations, the GCB's inability to effectively oversee the industry has led to an increase in complaints from both players and operators. Players have reported economic losses and illegal practices, while operators criticize the lack of clear guidelines and responsiveness.
See also: Why the Curacao Gaming Control Board was denounced
Despite these warnings, advocates of the LOK argue that the law is a step forward in the professionalization of Curacao's gambling industry. Minister Silvania insists that the measures outlined in the LOK will bring much-needed structure and revenue to the sector, addressing long-standing criticisms of the island's regulatory framework.
