Latin America
Brace Yourselves: Curaçao’s New Gambling Law Is at the Door!
Curaçao is approaching the finishing line of their online gambling reform, with the new law being sent to the parliament earlier this week. Markus Björk at Slotsoo has been in touch with both the Ministry of Finance and several Curaçao operators to find out how they feel about this big change. Do European license providers have a reason to feel threatened by Curaçao casinos 2.0?
LOK Now Just Waiting for Parliament Approval
On December 19th, Curaçao’s Ministry of Finance informed that the new law has been officially submitted to the parliament. The National Ordinance for Games of Chance, commonly referred to as LOK (Landsverordening op de kansspelen), is expected to come into effect in the first half of 2024.
Finance Minister Javier Silvania, the front figure of the reform, shares his excitement about this historical moment:
“We are very happy to reach this final stage. The submission of the LOK to Parliament is not just a procedural step, but a leap towards transformative progress.”
No More Master Licenses or Middle Men
The current setup of the Curaçao casino license is very unique, with four master license holders being in charge of giving licenses to individual casino operators and ensuring their compliance to the regulations.
This has resulted in big quality differences, and if you were to ask ten EU players how they feel about Curaçao casinos you would get very varied replies. Another critique with the current system is that most of the financial gain goes to the four master license holders, while the island of Curaçao is left with light pockets.
LOK will put an end to master licenses and middle men and require all licenses to be applied directly from Curaçao’s Gaming Control Board. This means more uniformed quality and better control. The new law will also require gambling companies to have physical presence on the island, creating new job opportunities for the locals.
The Curaçao casinos we interviewed all welcome the new setup. Spinwise (Tsars Casino) sees some hurdles, but says it will be worth it in the long run:
“The prohibition of sublicensing by master licensees introduces a new financial dynamic for individual companies, albeit with associated fees. While adaptation to the new framework may pose short-term challenges, the long-term benefits are expected to outweigh these initial obstacles.”
The Curaçao License Will Remain Tax Free
1. No tax on winnings
2. No restrictions on player nationality
3. Strong regulatory framework
Keeping the Balance Is Crucial for Success
Finance Minister Javier Silvania shares that they had a very inclusive approach when drafting the new law. They consulted all the stakeholders to make sure LOK will consider different perspectives and not just serve one group. The country of Curaçao, its citizens, the gambling industry, and the players should all benefit from the reform.
Many license jurisdictions that go through a re-regulation fall into the trap of legislating too much, without the government listening to the industry or the players enough. This leads to fewer license holders and lower channelization rates, as both the operators and the players search for more attractive solutions from other countries.
We wish Curaçao good luck with their new start in 2024!
Relax Gaming, the iGaming aggregator and supplier of unique content, has further increased its footprint in the LatAm market, by partnering with leading Chilean brand Betsala.
The agreement will see Betsala significantly boost its offering to players across Chile, with curated content from Relax’s award-winning portfolio becoming available to the operator.
Betsala players will now be able to enjoy top-performing titles such as Money Train 4, Temple Tumble and Beast Mode, all of which have proven to be huge hits in key regulated markets.
This latest LatAm development for Relax sees the supplier further improve its profile within the region, where it has already cemented its status as a leading supplier of iGaming content after a successful launch in Colombia in 2022.
Betsala launched in 2020 and is fronted by Chilean football legend Marcelo Salas, with the former Lazio and Juventus star also serving as a brand ambassador.
Nadiya Attard, CCO at Relax Gaming, said: “We are delighted to partner with Betsala. The LatAm market is one of the most exciting in the world with Chilean players seeking the most comprehensive offerings from suppliers.
“Partnering with the best brands is important in enhancing our footprint in such a key jurisdiction. Betsala’s leading platform will help present our offering to a wider audience.”
Albert Bellavista, CEO at Betsala added: “Relax Gaming has earned a reputation as a leading content provider across all regulated markets and we are thrilled to be able to integrate curated content into our platform. We pride ourselves on delivering a best-in-class offering and Relax’s content is a game-changer for us and will significantly boost engagement and enjoyment with our players.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
Pragmatic Play, a leading content supplier to the iGaming industry, is set to participate in CGS Santiago this month, as the provider seeks further inroads across the continent.
The provider is also the standalone Diamond Sponsor at the event, which takes place at Espacio Riesco in the country’s capital, Santiago, on May 29 and 30.
Pragmatic Play is set to attend the event as a renowned actor in the market, for its multi-product offering, comprising Slots, Live Casino content, Virtual Sports, Sportsbook, and Bingo, including fan-favorite titles Gates of Olympus and the popular Blackjack X.
With expo season now in full swing, CGS Santiago marks another conference in the region for the supplier, following its presence at BiS – SiGMA Americas in Brazil, GAT Expo in Colombia, and SBC Summit Rio earlier this year.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Latin America remains a key focus for Pragmatic Play as it gears up to make meaningful connections in Chile, a region full of potential as the iGaming industry continues to evolve in this part of the world. Pragmatic Play is also proud to be a Diamond Sponsor at this year’s expo, showcasing the importance that CGS Santiago represents and the immense opportunities that the two-day event has on offer.”
The leading slot game provider, Endorphina, has just confirmed its presence at this year’s PGS Lima event, which will be held at the Jockey Exhibition Center in Lima, Peru, from 12-13th June. This year, Endorphina invites attendees to visit its colorful stand number 65, which will be inspired by the famous holiday, Dia de Los Muertos.
This year, Endorphina’s stand aims to fully embody the uplifting spirit of Dia de Los Muertos while showcasing its revolutionary slot with the same name. In the slot, players encounter the symbolic Catrina, as well as the colored skulls, which represent the true spirit of this festive day. Furthermore, Endorphina has arranged a Mariachi band to entertain attendees, further elevating the Dia de Los Muertos experience.
The Peru Gaming Show is the largest international gaming fair in Latin America, and this year, the event will celebrate its 22nd anniversary. This annual event brings together the top game manufacturers, software developers, and platforms in the world to exhibit their most innovative products and services.
Join Endorphina’s celebration of Dia de Los Muertos at stand number 65, and embrace the ambiance of this year’s PGS Lima from 12-13th June!
-
Latest News7 days agoRG24seven Virtual Training Collaborates with Gambling Policy Expert Brianne Doura-Schawohl to Offer New Responsible Gaming Courses
-
Latest News7 days agoSuper Group Announces Key Terms of Strategic Transaction to Assume Full Control of its Sportsbook Technology Platform
-
Canada7 days agoBragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer
-
Gambling in the USA7 days agoCasinoWebScripts Hits Milestone with 200 Sweepstakes Casino Games for the US Market
-
Canada7 days agoIGT to Launch Cloud-based iLottery Solutions for Atlantic Lottery in Canada
-
Gambling in the USA2 days agoXSOLLA RELEASES QUARTERLY INSIGHTS REPORT ON THE FUTURE OF GAMING AND GAME DEVELOPMENT: A PRELIMINARY ANALYSIS OF SPRING 2024 METRICS AND UPCOMING TRENDS
-
Latest News2 days agoWA.Technology Announces Membership with AIEJA in Mexico
-
Latest News3 days agoAposta Ganha strengthens LatAm sports betting market integrity with IBIA membership