The Curaçao Gaming Authority (CGA) confirmed on Tuesday that its entire supervisory board resigned in September. This development follows earlier reports and sparked concerns over the ongoing rollout of the National Ordinance for Games of Chance (LOK), the island’s new gambling licensing framework. However, the CGA has reassured stakeholders that the implementation of LOK will continue as planned without any disruption.
Responsibility for the regulatory authority has now been shifted to Minister of Justice Shalten Hato, following the resignation. This clarification contradicts previous reports that inaccurately attributed the oversight to Curaçao’s Prime Minister, Gilmar Pisas. The CGA made it clear that the transition of duties to Hato took place on August 19, ensuring that regulatory activities remain steady and ongoing.
Aideen Shortt, the marketing and PR advisor for CGA, criticized the media for what she described as “sensationalist headlines and fake-news articles” that suggested the change in supervisory board members would derail the LOK’s rollout. Shortt emphasized that these claims were unfounded, reaffirming that the LOK’s implementation schedule is still on track. The resignation of the supervisory board, she insisted, was simply a procedural step in line with governmental changes, and does not affect the CGA’s role in supervision, enforcement, and licensing.
The significance of LOK in the context of Curaçao’s gaming industry cannot be overstated. The new regulatory framework seeks to replace the existing master license system with a more robust licensing process, aimed at bringing greater oversight and regulation to Curaçao’s gaming operations. Under LOK, all entities involved in organizing or operating games of chance from Curaçao must obtain a CGA-issued license. This measure aims to curb the operations of unlicensed offshore operators, who will now face penalties for non-compliance.
Despite the CGA’s assurance, some industry analysts remain cautious. They argue that any change in leadership within a regulatory body brings inherent risks, particularly during the rollout of a significant regulatory overhaul like LOK. “While transitions are part of governance, they often introduce a level of uncertainty that can affect implementation timelines,” observed an industry expert. They point out that even with current assurances, unforeseen complications could arise as new board members are appointed and settle into their roles.
Critics also warn of the potential for administrative delays during the transition period. The search for new supervisory board members is underway, but it remains to be seen how quickly the CGA can fill these positions and ensure that the new board members are aligned with the strategic objectives of the regulatory overhaul. “The efficiency of this transition will be crucial to maintaining momentum,” noted another commentator, suggesting that the speed and effectiveness of the new board’s integration will be closely watched by stakeholders.
Nevertheless, many in the industry remain optimistic about the long-term benefits of LOK. The new ordinance is expected to provide a clearer regulatory framework which could enhance the attractiveness of Curaçao as a jurisdiction for legitimate gaming operators. By eliminating the outdated master license framework, LOK aims to improve the integrity and competitiveness of Curaçao’s gaming industry on a global scale.
The CGA’s proactive steps in addressing the supervisory board’s resignation and clarifying the position of Minister Hato as the new overseer demonstrates a commitment to transparency and stability. This approach is likely to bolster confidence among operators and investors who depend on consistent regulatory environments to plan and manage their operations.
In conclusion, while the resignation of the CGA’s supervisory board initially raised concerns regarding the future of LOK’s implementation, the authority’s reassurances and strategic realignment under Minister Hato appear to have mitigated fears of disruption. As the CGA continues its search for new supervisory board members, the focus remains on ensuring that the rollout of the LOK proceeds smoothly, marking a significant milestone in Curaçao’s regulatory evolution. The industry will be closely monitoring these developments, but as it stands, the transition is being managed with a view to preserving the continuity and integrity of the regulatory process, reinforcing CGA’s role as a steadying force in the region’s gaming landscape.
