The Curaçao Gaming Control Board (CGA) confirmed that all members of its supervisory board resigned in mid-September, but emphasized that this personnel change will not affect the implementation of the new licensing and regulatory framework (LOK). CGA clarified that regulatory responsibilities were transferred from the Ministry of Finance to the Minister of Justice Shalten Hato on August 19, and the appointment process for the new supervisory board has been initiated. The LOK framework was approved by the Curaçao Parliament in December 2023, with 13 votes in favor and 6 against, marking a new era in Curaçao's gaming regulation aimed at improving the region's reputation as a haven for grey market operators. CGA's PR consultant Aideen Shortt criticized inaccurate media reports, stating that the launch of LOK has not experienced any delays or licensing plan disruptions, and all regulatory and licensing activities will continue as normal.
Supervisory Board Changes and Official Confirmation
The Curaçao Gaming Control Board (CGA) officially confirmed on Tuesday that all members of its supervisory board resigned in mid-September 2023. This personnel change, previously reported by the media, has sparked widespread attention to the operations of the regulatory body.
CGA issued a press release explaining the situation, emphasizing that the change in the supervisory board is an administrative procedure adjustment and will not affect the execution of core regulatory functions.
Transfer of Regulatory Responsibilities and Transition Arrangements
CGA clarified that regulatory responsibilities were officially transferred from the Ministry of Finance to Minister of Justice Shalten Hato on August 19, 2023. This transfer of duties is a normal administrative arrangement during the government transition period, not an emergency measure.
The appointment process for new supervisory board members has been initiated, and CGA stated that this process will not substantially affect the agency's daily regulatory work.
Implementation and Progress of the LOK Framework
The new licensing and regulatory framework (LOK) continues to be implemented as planned, with all licensing and regulatory activities proceeding normally. LOK was approved by the Curaçao Parliament in December 2023, with 13 votes in favor and 6 against.
This framework marks a new era in Curaçao's gaming regulation, abolishing the previous "master license" system and requiring operators to reapply for new licenses.
Policy Background and Reform Objectives
The LOK framework aims to improve Curaçao's reputation as a haven for grey market operators and establish a more robust regulatory system. Finance Minister Javier Silvania previously described LOK as a "safety net" for offshore operators.
The reform objectives are to raise regulatory standards, enhance market transparency, attract compliant operators, and promote the healthy development of the gaming industry.
PR Response and Media Clarification
CGA's marketing and PR consultant Aideen Shortt criticized some media reports for containing false information. She posted on LinkedIn stating that the launch of LOK has not experienced any delays or disruptions to the licensing plan.
Shortt emphasized: "The resignation of the supervisory board is an administrative procedure following the government transition. CGA's regulatory, enforcement, and licensing activities will continue uninterrupted."
Regulatory Continuity and Stability
CGA assures that all regulatory and licensing activities will maintain continuity and stability, and will not be interrupted due to personnel changes. The agency is committed to ensuring the integrity and reliability of Curaçao's gaming industry.
During the appointment process for the new supervisory board, the existing professional team will continue to perform daily regulatory duties, maintaining market order.
Operator Transition and Compliance Requirements
Under the LOK framework, existing operators need to reapply for new licenses and adapt to new regulatory requirements. The new system requires operators to meet higher compliance standards and enhance business transparency.
The transition arrangements aim to ensure business continuity while gradually raising regulatory standards for a smooth transition.
International Attention and Market Impact
Curaçao's gaming regulatory reform has attracted close attention from international operators and market observers. The implementation of the LOK framework will affect the region's competitive position as an international gaming hub.
A successful regulatory transformation may enhance Curaçao's reputation and attractiveness in the international gaming market.
Future Outlook and Ongoing Development
CGA states that it will continue to advance the comprehensive implementation of the LOK framework and improve the regulatory system. The agency is committed to balancing regulatory rigor with market development needs, promoting sustainable growth.
The long-term goal is to establish a gaming regulatory environment with international competitiveness, attracting quality investments and professional operators.
