{"id":5801,"date":"2023-09-28T05:06:14","date_gmt":"2023-09-28T05:06:14","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/09\/28\/curacaos-lok-on-tackling-grey-listing-and-economic-growth\/"},"modified":"2023-09-28T05:06:14","modified_gmt":"2023-09-28T05:06:14","slug":"curacaos-lok-on-tackling-grey-listing-and-economic-growth","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/09\/28\/curacaos-lok-on-tackling-grey-listing-and-economic-growth\/","title":{"rendered":"Cura\u00e7ao\u2019s LOK On Tackling Grey-Listing and Economic Growth"},"content":{"rendered":"<div>\n<p>he finance sector of Cura\u00e7ao stands at a pivotal juncture with the impending arrival of the National Ordinance for Games of Chance, commonly known as the LOK. Javier Silvania, the Minister of Finance, paints a vivid picture of the LOK, seeing it as a bulwark against potential grey-listing threats.<\/p>\n<p>LOK\u2019s introduction promises a significant shift in Cura\u00e7ao\u2019s gambling landscape. Spearheading this change, the island\u2019s Gaming Control Board (GCB) welcomed stakeholders by launching its license application portal at the onset of September. The gears are now in motion, with license applications being entertained starting 15 November. Those who clear the process will gain an interim Cura\u00e7ao license, with an additional six months for document submission.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/7bit.partners\/p617d974b\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"7Bit Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/7BitCasino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/7bit.partners\/p617d974b\" title=\"7Bit Casino\" target=\"_blank\" rel=\"nofollow noopener\">7Bit Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>177% up to 5BTC + 77 <strong>\u00a0Free Spins<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/7bit.partners\/p617d974b\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Silvania is clear about the stakes at play. He cites the shortcomings in Cura\u00e7ao\u2019s anti-money laundering (AML) protocols as a potential red flag for grey-listing. Pointing towards Gibraltar\u2019s recent inclusion in the Financial Act Task Force\u2019s (FATF) grey list due to its significant gambling presence, Silvania highlights the perils of lax AML measures. He stressed, \u201cAML remains pivotal for financial evaluations. We\u2019re up for a review next year, and the absence of stringent AML laws in our gambling sector is concerning.\u201d<\/p>\n<p>The implications of joining the grey list are far-reaching. Trade restrictions from specific governments and decreased revenue for local enterprises are just the tip of the iceberg. Silvania firmly believes in the LOK as the solution, stating, \u201cThe LOK offers the buffer we urgently seek.\u201d<\/p>\n<p>Economic ramifications weigh heavily in this decision-making process. Silvania urges stakeholders to view the change as an enhancement rather than a disruption. He acknowledges the uncertainty clouding the transition but assures, \u201cOur goal remains to elevate, not unsettle.\u201d<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Further diving into the economic aspect, Silvania draws a comparison between Cura\u00e7ao and Malta. While Cura\u00e7ao witnessed licensing revenues of \u20ac250,000 in 2022, Malta soared with a whopping \u20ac82m, as reported by their Gaming Authority. The stark difference in these figures underscores the divergent paths the two islands have taken.<\/p>\n<p>Silvania remains optimistic about the broader employment landscape post-LOK. He envisions Cura\u00e7ao transforming into a hub for the gambling industry. Expressing hope for the future, he shared, \u201cWe aim to establish Cura\u00e7ao as a benchmark in the gambling sector, thereby unlocking numerous employment prospects.\u201d<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/curacaos-lok-on-tackling-grey-listing-and-economic-growth\/\">Cura\u00e7ao\u2019s LOK On Tackling Grey-Listing and Economic Growth<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>he finance sector of Cura\u00e7ao stands at a pivotal juncture with the impending arrival of the National Ordinance for Games of Chance, commonly known as the LOK. Javier Silvania, the Minister of Finance, paints a vivid picture of the LOK, seeing it as a bulwark against potential grey-listing threats. LOK\u2019s introduction promises a significant shift [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5801","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=5801"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5801\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}