The Curaçao Gaming Control Board (CGCB) has decided to extend its license application period by a month as applications failed to meet expected standards. The extended application window will allow operators to address the logistical issues that prevented them from submitting high-quality applications.
According to the authority, applications that fail to meet the expected standards would have otherwise resulted in processing delays since the CGCB would need to procure additional information and potential changes.
This comes amid reforms in Curaçao’s gaming sector and changes to how operators are regulated. Whereas previously master license holders could freely issue sub-licenses to companies, now sub-licensees need to officially register.
The original deadline for these applications was March 30. However, the operators’ failure to submit proper applications within that time frame prompted the local regulator to extend the period through April 30.
This Will Be the Only Extension the CGCB Will Grant
The CGCB explained that Minister of Finance Javier Silvania is bullish on ensuring continuity of business for sublicensees who wish to continue operating out of the territory once its new regulatory framework is implemented.
However, the authority noted that a significant number of applications were incomplete or failed to meet the expected standards. Because of that, the authority believes that extending the application period was the right approach.
The board warned that this is the only extension that it will grant. During this period, the authority will continue to process the applications in progress.
For reference, the application process requires operators to submit three fully completed forms and attach a number of requested documents. Operators that complete the process will receive direct licenses under the current legislation, the National Ordinance on Offshore Games of Hazard.
Companies that complete the process now will have their licenses transferred once Curaçao adopts its new regulatory framework, the National Ordinance for Games of Chance.
In the meantime, the CGCB inched closer to an agreement with the Australian Communications and Media Authority which insists that the former regulator should do more to prevent its licensees from targeting Australian consumers.