A new regulatory landscape is at hand. How do you recognize these steps?
However, predicting the exact outcomes of this development is challenging, yet it is plausible to expect the at least the following:
1. Sublicense Extension
The LOK's rejection likely means that Master Licensees’ licenses will be extended, preventing a lapse for existing operators before new LOK licenses can be issued, contrary to the Ministry's initial reform vision.
2. Revisions in the Upcoming LOK Draft
The next LOK draft may be expected to diverge significantly from the original plan. Among the most problematic changes for international operators, the LOK may include:
requirements to ensure local business presence (the so-called business substance requirements); and
outright prohibition or limitations to share the license under'white-label' business model.
Both prospects are extremely detrimental to the existing operators.
3. Advantages for Rival Jurisdictions
Curaçao's legislative uncertainties open another door for competitor jurisdictions like Anjouan, certain Canadian territories, and the Isle of Man, known for their adaptable licensing approaches, to attract operators wary of Curaçao's instability.
Source: Casino Guru News 🚀
