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Brace Yourselves: Curacao’s New Gambling Law Is at the Door
Curacao is approaching the finishing line of its online gambling reform with the new law being sent to the parliament earlier this week. Markus Bjork at Slotsoo has been in touch with both the Ministry of Finance and several Curacao operators to find out how they feel about this big change. Do European license providers have a reason to feel threatened by Curacao casinos 2.0?
LOK Now Just Waiting for Parliament Approval
On December 19, Curacao’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 Curacao casino licenses 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 European Union players how they feel about Curacao 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 Curacao 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 Curacao’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 sub-licensing 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 Curacao License Will Remain Tax Free
Curacao has been a popular license choice for casino entrepreneurs ever since its conception. Alpha Affiliates’ Chief Legal Officer Alexandra Shepelevich lists the three main benefits of the Curacao license as:
- No tax on winnings
- No restrictions on player nationality
- Strong regulatory framework
Curacao will not try to change this recipe with the new law. The gross profit tax will stay at 0% for all license holders no matter how big or small the revenue is. This is a stark contrast to most licenses in Europe.
A common concern among Curacao operators is that the new system will cause a high barrier for entry, which some see as a positive thing. The new fees for a Curacao casino will be approximately €50,000 a year (annual license fee of €24,600 plus twelve monthly fees of €2,050 and yearly domain fees of €250 each with these numbers based on current ANG/EUR exchange rates).
Another strategy to keep unserious casinos away is the introduction of a digital seal, which will be made available on January 1, 2024. The digital seal is issued by Curacao’s Gaming Control Board and will help players confirm that the website has an active license.
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 Curacao, 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.
All the casinos that we spoke to agree that a good balance between regulations and operational freedom needs to remain. Mark Wellington, Rollino Casino’s Chief Compliance Officer, elaborates this point in his interview with Slotsoo: “One current challenge is maintaining a balance between fostering innovation and ensuring strict compliance with regulatory standards. Striking this balance is crucial to support a dynamic and competitive industry while safeguarding player interests.”
We wish Curacao good luck with its new start in 2024.
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Spin Big, Shop Bigger — Black Friday Cart Craze Brings the Black Friday Madness to the Reels!
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Get ready for the slot event of the year in Black Friday Cart Craze, where every spin feels like a mega sale!
Load up your carts to trigger the Coin Craze collect feature or the Super Sale Spins, where everything must go. Eliminate Minor symbols and upgrade Major symbols to increase your shopping spree haul!
And just when you think the sale is over, it’s time for the Wild Drop. Collect up to 20 Wilds during your Super Sale Spins, then watch them cascade onto the reels in one epic finale. With Coin Craze Collect, Super Sale Spins, and Wild Drop all working together, this fast-paced slot is the perfect blend of retail rush and reel rewards.
Play Black Friday Cart Craze now!
“Black Friday Cart Craze takes that familiar Black Friday energy, the rush, the chaos, the thrill of the chase, and brings it to the reels,” said Craig Asling, Director of Games at Booming Games.
“Every feature, from Cart Collect to the Wild Drop, is designed to give players that shopping spree sensation, where every spin could be the next big win.”
The post Spin Big, Shop Bigger — Black Friday Cart Craze Brings the Black Friday Madness to the Reels! appeared first on European Gaming Industry News.
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Entire Gaming Corps portfolio is now live with global operator
Gaming Corps, a publicly-listed game development company based in Sweden, has today announced that it has signed a deal to see its full portfolio of content available with the MozzartBet Group.
Players within multiple markets across the world, will now have the opportunity to play a whole host of games from Gaming Corps, which has become synonymous with providing world leading content. This includes the Smash4Cash series and recent releases Gates of Hellfire, Hoop Champion and the highly popular 3 Pigs of Olympus.
Mozzartbet Group has been operating since 2001 and during this time, it has continued to offer its player base a variety of betting and casino game action and this latest integration will add to its ever evolving game portfolio.
Commenting on behalf of Gaming Corps, Adam Pentecost, Director of Customer Success said: “From our initial conversations to getting the deal done, MozzartBet Group has been fantastic to work with.
“There is a mutual desire to put players at the very heart of what we do and the service we provide and I’m excited to see where this collaboration will take us.”
Marina Avramović, Head of Online Casino Ops at MozzartBet Group said, “We are thrilled to have Gaming Corp’s casino content on our site, and they are a fantastic addition to our games portfolio.”
“We are particularly interested in seeing how the company’s newest games will perform, and we look forward to a fully collaborative partnership moving forward.”
The post Gaming Corps Signs Partnership Deal with MozzartBet appeared first on European Gaming Industry News.
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Jonas Groes, highly experienced technology, finance and policy leader will become co-CEO of EveryMatrix from January 1st 2026 alongside company Co-Founder Ebbe Groes.
A long-time advisor, Jonas will join his brother at the beginning of the New Year to lead the business as it continues to scale and provide advanced turnkey platform technology to an increasing number of the world’s biggest brands and lotteries.
Jonas has a long and distinguished business career including the last 10 years as Partner of EY’s Nordic Consulting practice consisting of more than 1,200 people leading high-level projects with a focus on strategy, innovation and digitalisation towards major Government and infrastructure clients.
He is a results-driven leader with extensive experience in both public and privately owned companies with strong knowledge of technology, finance and policy. He will be based in Copenhagen, Denmark where EveryMatrix has recently opened an office.
Ebbe Groes, Co-Founder and Group CEO, EveryMatrix, said: “As the company’s growth continues, tripling our headcount in the last five years, and as we work with more of the largest gaming brands and lotteries, I needed to find someone who knows what it takes to scale a business and reach the ambitious targets we have for the next five years.
“Doing this means I will have more time to work on strategy and execute all the things we want to do to become a global top three tier-1 technology provider by 2030.”
“To share a CEO position requires complete trust at both personal and professional level. Jonas is the perfect candidate and I know he will go on to do amazing things at EveryMatrix. I’m very excited to soon be sharing the CEO position with him.”
Jonas Groes said: “Stepping into this role at EveryMatrix alongside my brother Ebbe is a dream come true. What he, Stian Hornsletten, and the rest of the team have built is nothing short of phenomenal and I’ve seen close hand just what it takes. We work well together and our differences and combined strengths complement one another. I can’t wait to get started.”
The post Jonas Groes named EveryMatrix Group Co-CEO appeared first on European Gaming Industry News.
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