Evolution of licensing of Curacao casinos

In 1993, Curacao became the first island in the Caribbean region to license its online gaming operators. Five years later, Curacao e-gaming came into being and its main role was to monitor the integrity of the licensees. In 2002, the local government separated Curacao e-gaming from the Curacao Gaming Control Board. The former now offers a single license that covers several gambling areas.

Every Curacao e-gaming license has two parts. While the Master License allows businesses to run online gaming companies, it also allows them to offer sub licenses to other entities. However, an entity with a sub-license can own and operate only one gaming company. Further, acquiring a casino license from Curacao means getting other benefits as well.

Every Curacao e-gaming license allows gambling companies to run scratch cards, online slots and table games, and poker rooms. Licensees can live broadcast casino games and also offer online sports betting. Live casino games provide the same excitement as their brick-and-mortar gambling counterparts. Furthermore, live casino games are fair and players can track their progress easily with the aid of HD cameras.

Curacao casino e-gaming drawbacks

Because Curacao started licensing online casinos in 1993, this island enjoys an advantage over other regions in this industry. In fact, many experts believe that Curacao makes more money from gambling than from tourism. Since Curacao’s e-gaming licensing procedures are less rigorous, they help many new casinos start their operations quickly and easily. However, many observers feel this flexibility isn’t helping Curacao e-gaming.

The two main requirements for receiving a Curacao e-gaming license include having enough funds and clearing a third-party audit test. Because these conditions are easy to meet, many observers have raised questions about the security of Curacao-licensed online casinos. Despite these shortcomings, the Dutch government has refused to interfere in the operations of Curacao e-gaming.

Non-interference by the Dutch government means that the local regulator does not intervene between the gambler and the casino. This behavior has demotivated many online gamblers from continuing to play with Curacao-based online casinos. The players tend to be wary of the safety of their online payments. However, Curacao has instituted some rules targeted toward online bookmakers recently.

Fixing the popularity issues

Many players have posted negative reviews about Curacao-based online casinos. This, plus the political developments in the Netherlands Antilles, has negatively affected the Curacao casino industry. But ever since Curacao became a constituent state of the Kingdom of the Netherlands in 2020, it has tried to mend the reputation of its casino business.

Presently, Curacao is home to several online and land-based gambling destinations, such as the Breezes Curacao Resort, the Marriott International Casino, and Casino Royale. Curacao has several online bookmakers as well, like Bet365, 32Red Sportsbook, and the ComeOn Sportsbook. Gamblers can enjoy online slots, table games and live casino games on these online casinos.

Fresh and established gamblers can receive several benefits from Curacao-based online casinos. These are sign-up and loyalty bonuses, cashback, extra spins, a good selection of games, and a wide variety of payment options. In addition, players can try games from some of the finest software providers in the world, such as NetEnt, Microgaming, and Evolution.

Applying for a Curacao e-gaming license

All applicants must disclose their identity and criminal backgrounds at the time of applying for a Curacao e-gaming license. Applicants must also disclose their source of funds. Further, they must share all the tools they will deploy to stop underage gambling on their online casinos. Finally, new businesses must demonstrate how they will curb money laundering on their sites.

Every license application form has a cost which must be paid while applying for e-gaming approval. Once the applicant has submitted all the necessary documents, the Department of Justice will investigate the applicant’s company and background information. Depending upon the investigation, the Justice Department can either grant a provisional license to the applicant or reject its application.

On receiving a provisional license, the applicant must submit a guaranteed deposit plus the license fee. Applicants must note that investigations can take up to eight weeks, and they need to submit these documents: 1. KYC Compliance 2. Identification of the Ultimate Business Owner 3. References for the business owner or the UBO. Additionally, applicants must submit a detailed business plan to the authorities.

About Curacao e-Gaming Licensing Authority

As stated before, the Curacao e-Gaming Licensing Authority (CGLA) is a department of the Curacao Gaming Control Board and is responsible for the licensing of online casinos. Curacao e-gaming is headquartered in Curacao and works under the supervision of the government on that island. Applicants for the e-license can view all the necessary requirements on the CGLA’s website.

Besides granting licenses to online casinos, the CGLA also protects the rights and interests of online gamblers. It sets up gambling limits for players and encourages safe and responsible online gambling behavior. Furthermore, the Curacao Gambling Licensing Authority also ensures that all online games from its licensed casinos are fair and trustworthy.

Every online casino wanting to start its operations in Curacao must comply with Article 33-135 of the Commercial Code of the Netherlands Antilles. Furthermore, every applicant must have at least one director and one shareholder, and at least one director must be a resident of Curacao.

Starting an online casino in Curacao

The Curacao Chamber of Commerce and Industry is the focal organization overseeing the setting up of new companies on this island. Among the documents required for starting an online casino in Curacao are the Articles of Association, which describe the rules for starting and operating such a company.

No minimum share capital

Unless specified in the Articles of Association, there is no minimum share capital required. A Curacao N.V. (Naamloze Vennootschap) company can have a one or two-tiered Board of Directors. What’s more, every Curacao casino must have a local office and a registered agent within Curacao itself.

Cost of Curacao casino e-gaming license

The cost of an e-gaming license in Curacao ranges from EUR 10,000 to 25,000. Applicants should also consider taxation while setting up online casinos in Curacao. The effective tax rate, while writing this article, is 2%. In addition, operators should also consider the license fee and the cost of hosting the website while setting up their businesses in Curacao.