Curacao iGambling Reform

Article by : Richard Janvrin Jul 20, 2023

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Starting September 1, 2023, Curacao, a slight Caribbean Island hotbed for online casino licensure, will institute more stringent gaming regulations.

Javier Silvania, the Minister of Finance, said the regulations would be more strict and “internationally recognized” standards.  “We demand transparency regarding the source of funds entering our country,” said Silvania during the iGaming NEXT Valletta 23 conference. “We insist that operators comply with legislation that aligns with reputable jurisdictions and meets the minimum requirements of international laws and guidelines concerning money laundering.”

These reforms come after the National Gambling Ordinance legislation. This should result in tighter regulations, including anti-money laundering, fraud prevention, and more systems in place to protect players.

The National Gambling Ordinance introduced the Curacao Gaming Authority, a new regulatory body, which will set out to slow down and stop “unwelcome and unlawful activities,” Minister Silvania said.

So where do we go from here?

Before September 1, the Advisory Council will review the National Gambling Ordinance before it goes to Parliament. If you didn’t know, Curacao is a Constitutional Monarchy and is a constituent of the Netherlands.

Silvania said operators would continue their business without interruptions, and the Gaming Control Board would develop a streamlined license application process. However, he believes that some have “abused” the Cucacao reputation.

With the news of this update, Curacao should attract new, more reputable, and favored operators. Sylvania said these regulations would satisfy the Dutch government’s requirements and that he doesn’t want Curacao to be known as the “red-haired stepchild” of the gambling industry.