Curaçao Parliament approves LOK

Curaçao was one of the first jurisdictions to regulate online gambling in the 1990s. Today, another piece of history was made when the Parliament of Curaçao approved the National Ordinance for Games of Chance (LOK) legislation with 13 votes in favour and 6 against. The LOK overhauls the existing regulatory framework, effectively addressing long-standing concerns about safety and oversight of online gambling.

Taking to facebook, Finance Minister Javier Silvania wrote: “Father Christmas came early this year. With the approval of the LOK bill, the people of Curaçao finally got what they had been denied for over 31 years! With the acceptance of the LOK, we have entered an era of economic renaissance. The projected revenues will give the Government the financial space to make a structured and sustainable start to eradicate poverty and address many of the challenges we have come to face.” In another post earlier today, Minister Silvania posted a newspaper article that defines the LOK as a goldmine for the country. He also posted part of his parliamentary address where he addressed the allegations brought about by Drs. Luigi Faneyte MSc CFE CICA CCS .

The LOK will replace the previous model with two main types of licences: B2B for service providers and B2C for operators dealing directly with players. Operators will now be required to establish a physical office in Curaçao, reinforcing the jurisdiction’s commitment to on-island governance.

The LOK will replace the previous model with two main types of licences: B2B for service providers and B2C for operators dealing directly with players. Operators will now be required to establish a physical office in Curaçao, reinforcing the jurisdiction’s commitment to on-island governance...[Read More]