Curaçao’s New Gambling Law Takes Effect
Curaçao’s new gambling law, the National Ordinance on Games of Chance, took effect on 24 December 2024. The legislation was introduced just a week after being passed by Parliament and is now in the hands of the Gaming Control Board. The regulator is responsible for creating ministerial regulations that will outline how the law is to be implemented.
On Christmas Eve, the National Ordinance on Games of Chance (LOK) officially came into effect in Curaçao. After its approval by Parliament on 17 December 2024, swift action was taken to implement the long-awaited legislation. The law was published three days after the parliamentary vote and adopted on 24 December.
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Next Steps for the Gaming Control Board
Full responsibility over iGaming in Curaçao now shifts to the Gaming Control Board, which will become the Curaçao Gaming Authority under the new law. The regulator must prepare ministerial regulations of general application (MRmaw) and national decrees (LBham) to facilitate the law’s practical execution, according to the Antilliaans Dagblad.
Opposition parties raised concerns during the parliamentary process, particularly over the use of ministerial regulations, which they argued bypasses parliamentary oversight. These regulations will determine the finer details of the law’s implementation.
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Allegations against the regulator
As the Gaming Control Board tackles its new responsibilities, it also faces allegations from opposition member Luigi Faneyte. At the end of 2024, Faneyte filed a second complaint, accusing the regulator of corruption, fraud, and money laundering, based on an alleged phone call involving adviser Mario Galea.
The Gaming Control Board strongly denied the accusations, calling them “defamatory” and stating it was considering legal action. In a press release, the board clarified that Galea was not involved in the alleged phone conversation. Both the complaint and the recording have since been removed from Faneyte’s website, LOKinvestigation.com.
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Curaçao’s Competitive Advantage
Aideen Shortt, an adviser to Minister Silvania, responded to the accusations on LinkedIn, suggesting that Faneyte is “stirring chaos for his own political agenda.” With elections only two months away, Faneyte’s opposition party could benefit from the controversy surrounding Minister Silvania and his advisers.
Shortt and Galea also speculated that other entities might be behind the allegations. Speaking to iGamingBusiness, they suggested that some parties, including gambling companies with rejected licence applications, might be trying to undermine the law. According to Shortt and Galea, the number of licence applications in Curaçao has “significantly declined” under the new framework.
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About The New Gambling Law in Curaçao
The new gambling law seeks to enhance protections for vulnerable players, increase transparency in the licensing process, and put an end to practices previously seen as unclear or susceptible to misuse. It also focuses on addressing illegal activities such as money laundering, fraud, and corruption, whilst promoting fair practices and adhering to international regulatory standards. As such, gambling operators are now required to establish a physical presence on the island by opening an office, which is a significant change from the previous requirement where a mere postal address was sufficient.
Plans for regulatory changes in Curaçao were first announced in 2020 as part of conditions tied to financial assistance from the Netherlands during the COVID-19 pandemic. The Netherlands permits only operators with a Dutch licence and has actively worked to prevent international gambling operators from targeting Dutch players, including companies that work with a licence from the Caribbean country. Curaçao is one of the four constituent countries of the Kingdom of the Netherlands, alongside the Netherlands, Aruba, and Sint Maarten. However, licences issued in Curaçao are not valid for the Dutch gambling market.
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Curaçao’s Relationship With Crypto Casinos
The licence in Curaçao is typically used by international online gambling operators that work with crypto currencies. Under the new framework crypto will still be allowed as a valid payment method for licence holders. Yet, the Caribbean country seeks to enhance its credibility as a licensing jurisdiction after ongoing criticism over a lack of transparency and the absence of a central regulatory body. The country operates through a sublicensing system managed by private entities, leading to the perception that a Curaçao licence is more of a commercial arrangement than a regulatory endorsement. Prior to its reorganisation, the Curaçao gaming authority was often criticised for its limited oversight and control. Many crypto casinos that target players in New Zealand hold a licence in Curaçao.
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