Curaçao passes landmark online gambling reforms amid turmoil

Curaçao passed its landmark set of online gambling reforms yesterday (17 December) amid an ongoing licensing scandal.

The National Ordinance for Games of Chance (LOK) has now been approved by 13 legislators to six, according to advisor to the Curaçao Ministry of Finance Aideen Shortt.

The bill had been tabled in parliament for discussion on Monday, as reported by NEXT.io last week.

The passage of the bill marks the completion of a process that began in 2022, when the Dutch government tied Covid relief to several legal reforms, including a requirement for the island to clean up its gambling sector.  

New era for Curaçao gaming

It is unclear when exactly the bill was passed by legislators. A parliamentary stream debating the bill ends with an announcement there would be a two-hour break where the finance minister could answer any questions.

Sources also told NEXT.io that when local newspaper Antilliaans Dagblad went to print at 8pm last night, the bill had still not passed.

Nonetheless, the news would mark the biggest shake-up to the island’s online gambling regulations in decades, with the stated aim of improving oversight and boosting the jurisdiction’s reputation.

Since the mid-1990s, Curaçao had become one of the world’s largest offshore gaming jurisdictions, with tens of thousands of global operators licensed by the island’s gaming regulator.

However, the old regime featured a two-tiered system, in which the Curaçao Gaming Control Board (GCB) directly regulated only four historic master licence holders.

These companies then contracted out the permits to other companies, which in practice faced less stringent oversight than the law implied, in a system known as sub-licensing.

The stated goal of the LOK was to replace this with a more traditional set-up, involving a revamped regulator responsible for directly overseeing online gambling licences.

Some have questioned how successfully the LOK achieves these goals, with its critics claiming significant gaps remain in the regulation.

The bill’s passage also comes in the wake of a licensing scandal that has erupted on the island following the ministry’s decision to begin issuing new gambling licences ahead of the bill’s passage.

This was driven by sensational allegations made by opposition politician and forensic financial investigator Drs. Luigi Faneyte, in two complaints submitted to the Public Prosecutors Office, among other parties.

Silvania hits back at Faneyte

Minister of finance Javier Silvania yesterday (17 December) hit back at Faneyte, calling him a “bomba”, meaning a traitor to his own people, according to local reporting.

He said: ‘Faneyte’s accusations have no basis. It is the right of every citizen to report criminal offences to the Public Prosecution Service. The Public Prosecution Service must be given time to investigate this. But this institute did not even get that space before Faneyte came out with a second report.

“Moreover, he goes to the international press with it where he pretends it is the truth. But Mr. Faneyte, the international press cannot help you with your reports. You only harm the island. You only base yourself on suspicions. That’s what I call gossip.”

Share