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Curacao parliament rejects LOK law

Curacao parliament rejects LOK law

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The Parliament of Curacao has decisively but somewhat surprisingly rejected the Landsverordening Online Kansspelen (LOK) law, ushering in a period of worrying uncertainty for the iGaming industry.

This unexpected development has particularly rattled the four master license holders and the multitude of sublicensees operating under the existing regulatory framework. The decision to call for substantial amendments to the LOK law has left the existing master licence holders and numerous sublicensees facing concerning times.

The new LOK law was intended to introduce structure and oversight to Curacao’s buoyant iGaming industry, but the Parliament’s demand for substantial amendments has applied the brakes to ambitions for further expansion.

The four master license holders face potential disruptions to their established business models and vast investments. Sublicensees will be deeply concerned that a changing regulatory landscape will jeopardise their operational viability.

Further clarity on the proposed amendments will follow, as all stakeholders work to strike a balance that promotes the industry’s growth while safeguarding Curacao’s interests.