Curaçao passed major online gambling laws yesterday (17 December), amidst an ongoing licensing scandal.
Aideen Shortt, counselor to the Curaçao Ministry of Finance, reports that the National Ordinance for Games of Chance (LOK) has been adopted by 13 parliamentarians to six.
The law was introduced in parliament for debate on Monday, as reported by NEXT.io last week.
The bill’s passage marks the end of a process that began in 2022, when the Dutch government linked Covid relief to a series of legal reforms, including a demand for the island to clean up its gaming industry.
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A new era for Curaçao gaming
It’s unclear when legislators passed the bill. A parliamentary stream debating the bill concludes with the announcement of a two-hour break during which the finance minister will be available to answer any questions.
According to sources, when the local newspaper Antilliaans Dagblad went to press at 8 p.m. last night, the measure had not yet been passed.
Nonetheless, the announcement would be the most significant shake-up of the island’s online gambling legislation in decades, with the claimed goal of enhancing oversight and boosting the jurisdiction’s reputation.
Since the mid-1990s, Curaçao has become one of the world’s major offshore gambling jurisdictions, with tens of thousands of global operators licensed by the island’s gaming regulator.
However, the previous regime had a two-tiered system, with the Curaçao Gaming Control Board (GCB) directly regulating only four historic master licence holders.
These corporations then sublicensed the permits to other companies, who faced less strict control than the legislation required, in a process known as sub-licensing.
The LOK’s declared goal was to replace this with a more traditional structure, including a new regulator in charge of directly regulating online gaming licenses.
Some have questioned how successfully the LOK meets these objectives, with detractors saying that considerable loopholes exist in the rule.
The bill’s passing also coincides with the emergence of a licensing scandal on the island as a result of the ministry’s decision to begin issuing new gaming licenses ahead of the bill’s adoption.
This was prompted by spectacular charges made by opposition lawmaker and forensic financial investigator Drs. Luigi Faneyte, who filed two complaints with the Public Prosecutors Office, among other parties.
Silvania strikes back at Faneyte
According to local reports, Minister of Finance Javier Silvania responded to Faneyte yesterday (17 December) by branding him a “bomba,” or traitor to his own people.
He stated, “Faneyte’s accusations have no basis.” Every individual has the right to report criminal acts to the Public Prosecution Service. The Public Prosecution Service must be allowed adequate time to investigate this. But this institute did not even have that space before Faneyte issued a second report.
“Moreover, he goes to the international press with it, claiming it is the truth. But, Mr. Faneyte, the international press cannot assist you with your reporting. You are simply harming the island. You only have suspicions. “That’s what I call gossip.”
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