Compliance Updates
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. 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
- No tax on winnings
- No restrictions on player nationality
- 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!
Compliance Updates
JCM Global Receives Approval to Operate in West Virginia
JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.
“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.
JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.
In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.
Compliance Updates
SYNOT Games Officially Certifies Over 140 Games in Brazil
SYNOT Games has announced that more than 140 of its games have now been officially certified in Brazil.
“We are delighted to announce that more than 140 of our games have now been officially certified in Brazil. This significant achievement allows us to expand our reach and introduce a diverse selection of games to this dynamic market. Brazil represents a key opportunity for growth, and we are committed to delivering exceptional gaming experiences to the Brazilian audience,” the Company said.
“We are thrilled to introduce our portfolio in Brazil, offering innovative and engaging gameplay that promises to captivate and entertain players,” Martina Krajci, CCO at SYNOT Games, said.
Compliance Updates
Delasport Now GLI-Certified for Sports Betting in Brazil
Delasport has just become one of the first suppliers to obtain a GLI certification for its sportsbook in Brazil, two weeks before the historical regulation comes into effect.
Continuing its global growth, Delasport is bringing several operators on board in Brazil. In order to complete the process, operators that are applying for a new Brazilian license have 30 days to provide all relevant platform certificates from the moment that they are notified by the regulator that their initial submission has been accepted. This is also the moment that they can pay the license fee. Still, failure to provide platform certificates will result in the application being placed on hold.
Delasport turned to Gaming Laboratories International (GLI) for the certification of its sportsbook against Brazilian technical standards. The historical partnership with GLI was further strengthened by the news, a few months back, that GLI had become the first laboratory to achieve the local accreditation to certify for betting systems, live game studios, and online games by the Secretaria De Prêmios e Apostas (SPA) in Brazil.
Delasport has successfully met all technical requirements for providing its sports betting solution to the largest country in South America. The certificate is evidence of the team’s experience, expertise, and determination to lead the way in key jurisdictions.
Obtaining a GLI certification for Brazil is a step towards cementing the trust players and operators have for Delasport’s products. This serves to show that the award-winning supplier is capable of meeting even the strictest industry standards for integrity and fairness.
“When we learnt that providing platform certificates to the regulator was on our partner operators’ critical path for obtaining the license, we immediately prioritized submitting the system to GLI for testing”, Delasport’s Chief Compliance Officer Filippo Ferri said. “Needless to say, GLI did a tremendous job of working with us to conduct the tests in record time, to match the submission deadline of some of our clients. I am also very proud of how our internal departments worked together to obtain this certificate, and of how they continue to push forward with the delivery of a datavault system that complies with SIGAP requirements.”
Operators that plan on entering the newly regulated Brazilian market will now have numerous advantages if they partner with Delasport. They will be able to provide their players with personalization features like My Sportsbook, My Event Builder, and My Combo that skyrocket revenues and retention.
Furthermore, Delasport’s KYC and AML provider is a market leader that guarantees the highest level of compliance for all operators that choose to go on this route.
Also, Delasport has already partnered with numerous local payment system providers and offers a real-time AI-powered Responsible Gambling system which can easily adapt to local regulations.
Last, but not least, operators will feel Delasport’s support from the get-go all the way to establishing themselves as a market leader. Delasport is knowledgeable of cultural and regional differences and can address all localization needs from the early stages of engagement.
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