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Curaçao’s Gaming Reform: Spinwise Sees both Challenges and Benefits
Slotsoo’s Curaçao interview series continues, and in the third article we speak with Spinwise, the company behind Tsars Casino and many other popular brands. They see short-term challenges with Curaçaos re-regulation of the gambling market, but agree that the long-term benefits will be worth it.
1. Why did you choose the Curaçao license for your online casinos?
Opting for the Curaçao license for our online casino was a strategic decision driven by the jurisdiction’s historically favorable landscape for iGaming operators. Curaçao boasts a business-friendly regulatory framework and licensing system, making it an attractive choice for various reasons.
The licensing process is reputable, straightforward, and cost-effective, particularly in comparison to licenses from other jurisdictions. Online casino operators find it appealing due to reasonable application fees and lower tax rates, rendering it an economically viable option.
The regulatory requirements strike a balance between player protection and operational freedom. Compliance standards ensure integrity, offering players assurance regarding fair play and security while affording operators a level of independence in their business operations.
Notably, the Curaçao license holds global recognition, enabling companies like ours to extend services to a broad player base across multiple jurisdictions. Beyond economic advantages, recent regulations enhance the license’s role in ensuring a safe and transparent environment for responsible gaming.
Additionally, the Curaçao license provides the following benefits:
- No tax on winnings.
- A strong regulatory framework for fair and safe online gambling.
Overall, the Curaçao license emerges as a favorable option for online casinos seeking a swift, straightforward licensing process, flexibility, cost-effectiveness, and a positive reputation pro player.
2. How do you feel about Curaçao’s upcoming new license system and law?
We view the introduction of the National Ordinance for Games of Chance (LOK) in Curaçao as a positive step toward fostering a responsible and well-regulated gaming environment that aligns with international standards. The new law, while imposing greater barriers to entry akin to EU jurisdictions (Slotsoo note: for example MGA Casinos), enhances overall industry safety by reducing opportunities for illicit behavior and collaboration.
Despite increased application fees and potential challenges, we acknowledge the positive impact on the industry’s long-term stability. The prohibition of sublicensing 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 evolving guidelines create opportunities within the thriving market, promoting transparency and competitiveness. We embrace the new framework as a means to strengthen trust in our brand and operations over the long term.
While adaptation to the new framework may pose short-term challenges, the long-term benefits are expected to outweigh these initial obstacles.
3. What challenges do you see with Curaçao casinos, both now and in the future?
The previous system allowed operators to purchase sublicenses, fostering collaboration and product development. The shift away from this system may result in delays for casinos awaiting new releases.
Higher fees could potentially deter operators from applying for new licenses, impacting the market. Stricter regulations might pose challenges for operators adapting to the new business model.
Despite near-term challenges, embracing these changes is seen as crucial for a more sustainable and reputable licensing environment in the long term. Tsars team remains optimistic about the promise of Curaçao casinos, anticipating a bright future once initial challenges are addressed, and the sector adapts.
Spinwise and Tsars Casino
Spinwise is the mastermind behind many beloved casino brands. This company was founded in 2021 and has its headquarters in Tallinn. Slots is at the center for all Spinwise casinos, and new players start their journey with free spins bonuses.
Award-winning Tsars Casino is one of their oldest brands and targets players all around the globe. It has a fun travel adventure theme and rocks a Curaçao license (together with Casoo, a brand currently closed for refurbishing). For most of us EU players, Spinwise is mainly associated with Winnerz, Wisho and Trickz, three brands sharing an Estonia license.
