Zona de Azar Brasil – Curaçao Begins New Phase of Regulatory Structure

Brazil.- July 16, 2024 www.zonadeazar.com The deadline for B2B and B2C gaming companies to apply for licensing in Curaçao reopens for the first time since the closure on April 30.

Aideen Shortt, consultant at the Curaçao Gaming Control Board, highlighted that this process is part of a new era for the regulatory structure in the region. Although the period reopens, candidates who submitted their requests before the previous deadline, April 30, will have priority in the queue.

Regarding the deadline, Shortt stated that “this means guaranteed business continuity”. She added: “All sub-licensees were given the opportunity and a period of six months to make an application. By doing this, they ensured they could integrate when the lockdown was implemented.”

This period ended on April 30th. The organization had high expectations, but the surprise was total. The entity received 741 license requests.

Curaçao’s new regulatory framework

500.Casino CEO Christoffer Andersson also welcomed the new phase. He said: “For us, it has been relatively smooth that Curaçao asking for the ‘2.0’ license is something we have already applied for a long time. At the end of the day, it’s still a process of renewing and filling out a huge amount of paperwork.”

He believes in the importance of maintaining regulations at an appropriate level, avoiding imposing restrictions on players or operators.

As a result of the changes, Andersson stated that Curaçao will benefit from “an improved reputation due to these changes, and several bad apples will not continue to operate under a Curaçao license.”

Aideen Shortt added: “If someone wants to leave Curaçao now that the jurisdiction is organizing itself, that says a lot. Our view is that a jurisdiction involves not just the law or the regulator, but also the operators, the suppliers and all ancillary services. We drafted our legislation with this in mind.”

Shortt added that the body will require the same level of due diligence from each candidate, including areas such as information requirements.

These requirements will be “standard” for license applicants regardless of how or when they submit their application. Furthermore, the current deadlines gain importance, as the current license will expire at the beginning of 2025.

Edit: @_fonta www.zonadeazar.com