WILLEMSTAD – The number of master license holders in Curaçao is still five, Minister Silvania emphasized. He recently spoke of four master licensees, but each license is still active. The license of Curaçao Interactive Licensing was recently extended by twelve months.
WILLEMSTAD
– The number of master license holders in Curaçao is still five, Minister Silvania emphasized. He recently spoke of four master licensees, but each license is still active. The license of Curaçao Interactive Licensing was recently extended by twelve months.
Earlier in February some confusion arose when Minister Silvania spoke at the ICE gambling fair in London. In his speech, the minister spoke about four master’s license holders. Since one of the five master licenses expired on January 31, it appeared that Curacao Interactive Licensing’s license had not been renewed. However, this is not the case, Silvania has informed.
Earlier in February some confusion arose when Minister Silvania spoke at the ICE gambling fair in London. In his speech, the minister spoke about four master’s license holders. Since one of the five master licenses expired on January 31, it appeared that Curacao Interactive Licensing’s license had not been renewed. However, this is not the case, Silvania has informed.
According to the minister, the permit of Curaçao Interactive Licensing has been extended by twelve months until January 31, 2024. As a result, the question remained why Silvania spoke of four master licensees instead of five. The minister explains that it has to do with the way in which the issued master license is used.
According to the minister, the permit of Curaçao Interactive Licensing has been extended by twelve months until January 31, 2024. As a result, the question remained why Silvania spoke of four master licensees instead of five. The minister explains that it has to do with the way in which the issued master license is used.
Four out of five licensees do not use the master license to operate online games of chance themselves. With their master license they issue sublicenses that allow other companies to offer online gambling on their behalf. The fifth master licensee, The Elite Turf Club, does not operate according to this model and uses the license itself for its own online casino.
Four out of five licensees do not use the master license to operate online games of chance themselves. With their master license they issue sublicenses that allow other companies to offer online gambling on their behalf. The fifth master licensee, The Elite Turf Club, does not operate according to this model and uses the license itself for its own online casino.
Online gambling industry reform
Online gambling industry reform
The model used by the four master license holders is a thorn in the side of Curaçao and Silvania. For example, he said on ICE that it is time for Curaçao to benefit from the online gambling industry. In the current model, the many hundreds of sub-licensees pay only to the company with the master license, of which little flows back to the island.
The model used by the four master license holders is a thorn in the side of Curaçao and Silvania. For example, he said on ICE that it is time for Curaçao to benefit from the online gambling industry. In the current model, the many hundreds of sub-licensees pay only to the company with the master license, of which little flows back to the island.
A model is being introduced in Curaçao that shows similarities with the gambling model in the Netherlands. There will be an independent regulator that will distribute the licenses to the online casinos, the Curaçao Gaming Authority.
A model is being introduced in Curaçao that shows similarities with the gambling model in the Netherlands. There will be an independent regulator that will distribute the licenses to the online casinos, the Curaçao Gaming Authority.
The permit holders will therefore also pay taxes to Curaçao, and they will be obliged to be (partly) established on the island. In this way, it is hoped to increase employment in Curaçao as well.
The permit holders will therefore also pay taxes to Curaçao, and they will be obliged to be (partly) established on the island. In this way, it is hoped to increase employment in Curaçao as well.
https://www.curacaochronicle.com/post/main/silvania-there-are-still-five-master-license-holders/
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