The Curacao gaming license, once the default choice for iGaming operators worldwide, is now at the centre of a regulatory crisis that shows no signs of resolving. The CGA’s entire supervisory board resigned in September 2025. The Finance Minister behind the reform left office amid corruption allegations a month later. And operators who followed the rules and applied under the new LOK framework are still waiting on final decisions.
If you hold a Curacao license or were planning to apply for one, this is what you need to know about where things stand in 2026.
What Happened to the Curacao Gaming Authority
The LOK (Landsverordening op de Kansspelen) entered into force on 24 December 2024, replacing the old 1993 Offshore Games Ordinance. It was supposed to be Curacao’s fresh start: direct licensing, proper oversight, no more sub-licenses issued by private companies with minimal accountability.
Three months after the CGA officially launched, all three supervisory board members (Shelwyn Salesia, Robert Reijnaert, and Ildefons Simon) resigned. The CGA called it a “routine reshuffle following government transition.” The timing raised questions across the industry.
The Finance Minister’s Exit
In November 2024, forensic investigator Dr Luigi Faneyte filed a criminal complaint accusing Finance Minister Javier Silvania of fraud, embezzlement, and money laundering, specifically concerning the issuance of provisional gambling licences during the LOK transition. By September 2025, leaked audio recordings surfaced of heated exchanges between Silvania and the head of the Tax Receiver’s Office, each accusing the other of corruption.
Silvania resigned on 15 October 2025. The CGA was transferred from the Ministry of Finance to the Ministry of Justice. The Board of Financial Supervision confirmed prosecutors were examining the CGA, though the authority itself denied knowledge of any investigation.
In early 2026, the Finance Minister clarified that no formal investigation was taking place. The departing supervisory board retracted its integrity allegations, acknowledging they had relied on unverified rumours. The situation has stabilised on paper, but the underlying concerns have not fully gone away.
Operators Caught in Curacao’s Regulatory Limbo
The real damage is not political. It is operational.
Under the LOK, applicants receive a six-month provisional license, followed by a possible six-month extension, after which the CGA must issue a final indefinite license or reject the application. On 23 December 2025, one day before that second deadline expired, the CGA confirmed it had not reached final decisions for “a group” of operators. It cited the volume of information under review.
What This Means for Provisional License Holders
Those operators were told they “may continue operating” while reviews are completed. No timeline was given. In practical terms, they are running businesses on regulatory goodwill, not regulatory certainty.
This matters beyond compliance. Payment processors, banking partners, and game providers all look at license status before entering agreements. A provisional license with no confirmed end date is a liability in every commercial negotiation.
The Sub-License System Is Gone
The old system ran through four master license holders: Cyberluck, Antillephone, Gaming Curacao, and Curacao Interactive Licensing. Together they licensed roughly 850 gaming sites. All sub-licenses expired by 31 January 2025. Cyberluck was declared bankrupt in October 2024.
Operators who built their businesses on cheap, fast sub-licenses now face a fundamentally different regime. The new LOK license costs EUR 47,450 annually, requires a physical office in Curacao, demands local employees, and enforces enhanced AML and UBO disclosure requirements. The regulatory environment has fundamentally changed.
What Operators Should Consider Now
Based on what we are seeing in 2026, operators exploring a new Curacao gaming license should weigh the current uncertainty against alternatives that offer a clearer path. Nevis is one we’d recommend looking at closely. The regulatory framework launched in May 2025, and the applications we have processed have followed the published timeline without surprises.
That is not a knock on Curacao’s intentions. The LOK reform was the right idea. But the execution has not kept pace with the ambition. Operators need certainty when making licensing decisions, and that is harder to find in Curacao right now than it was a year ago.
The Alternatives Worth Considering
For operators who need speed and low cost, Anjouan remains the fastest path to market. License approval takes three to six weeks, total cost is around EUR 17,000, and there are no local staffing requirements. Nearly 1,500 operators have made that choice already.
For operators who want stronger PSP acceptance and a jurisdiction with a 40-year track record in financial services regulation, Nevis is the better long-term bet. Processing takes eight to twelve weeks and the annual fee is around EUR 28,000, but you get FATF whitelist status and a regulator that picks up the phone.
The comparison tool on our jurisdictions page breaks down the specifics side by side. But the short version is this: if you were considering Curacao, look at what it actually offers today versus twelve months ago. The calculus has changed.
Should Existing Curacao License Holders Stay
If you already hold a green seal (a fully granted B2C license under the LOK), you are in a defensible position. The license is valid, the framework exists, and the CGA is still processing applications. The governance issues are concerning, but they are not a reason to abandon a working license.
If you are on a provisional license with no final decision, the calculation is different. You are operating on an assumption that the CGA will eventually approve you, but you have no guarantee and no timeline. Every month spent waiting is a month your competitors are building relationships with PSPs and game providers under settled regulatory status elsewhere.
The Real Cost of Waiting
BC.Game voluntarily withdrew its Curacao license on 5 December 2024, one day before the regulator was set to rule on its status. The company cited an “increasingly hostile environment for operators” and moved to Anjouan. It is the most public example, but the pattern is widespread: Curacao went from 1,200 licensed operators to roughly 300.
The operators who left early had the luxury of choosing where to go. The ones who wait until forced may find their options more limited and their migration more expensive.
Looking Ahead: What Happens Next
The CGA has reiterated its commitment to implementing the LOK alongside the Ministry of Justice. New supervisory board members are being appointed. The local staffing requirement enforcement deadline was pushed to 1 April 2027, giving operators more runway.
None of that addresses the fundamental problem: the regulator is rebuilding credibility while simultaneously trying to process a backlog of license applications, all under political scrutiny. That is a difficult position for any regulator, let alone one that is less than two years old.
With nearly 30 years in the business, we have seen jurisdictions go through growing pains before. We will continue monitoring the situation and updating our Curacao gaming license page as developments unfold. For now, we’d recommend that anyone not already committed to Curacao look at jurisdictions that can give a clear answer and a reliable timeline. Talk to our team and we will walk you through the options that fit your situation.