Curaçao has embarked on a transformative journey to reform its gambling industry through the National Ordinance for Games of Chance (LOK). Approved by parliament in December 2024, this law aims to establish a safer, more transparent gambling sector while addressing concerns about money laundering and illegal activities. The reforms follow a productive meeting between Curaçao’s Minister of Finance, Javier Silvania, and Dutch officials, including Justice Minister David van Weel and Secretary of State for Kingdom Relations Zsolt Szabó.
Collaboration to Enhance Oversight
The implementation of LOK marks a significant step in Curaçao’s efforts to regulate an industry previously mired in controversy. The legislation, passed by a 13–6 vote, is the result of Dutch government pressure, which tied COVID-19 financial aid to broader legal reforms. This includes improving gambling regulation to meet international standards.
Key aspects of the reform involve collaboration between the newly established Curaçao Gaming Authority (CGA) and the Dutch Kansspelautoriteit (KSA). The two regulatory bodies will share expertise, best practices, and technologies to ensure rigorous oversight. Semi-annual consultations and regular meetings with judicial partners, such as the Public Prosecutor’s Office and the Financial Intelligence Unit (FIU Curaçao), will monitor progress and align strategies.
Minister Silvania emphasized Curaçao’s commitment to building a well-regulated gambling environment, stating that collaboration with Dutch institutions is crucial for achieving these goals.
Addressing Licensing Scandals
The reform comes in the wake of a licensing scandal that raised concerns about governance and transparency in Curaçao’s gambling sector. Allegations from opposition politician and forensic investigator Luigi Faneyte highlighted irregularities in the finance ministry’s issuance of gambling licenses before LOK’s passage. These allegations accelerated the legislative process, culminating in the approval of the LOK.
Under the new framework, the CGA will oversee licensing, compliance, and enforcement. Operators must meet stringent requirements on anti-money laundering, responsible gambling, and consumer protection. The reforms aim to curtail illegal operations and restore confidence among international investors and the local public.
Global Trends in Gambling Regulation
Curaçao’s move to formalize its gambling sector aligns with a broader global trend of tightening regulations to attract legitimate operators while eliminating black-market activities. By introducing the LOK, Curaçao signals its readiness to compete on the international stage with a framework that prioritizes transparency and accountability.
The Dutch parliament has actively supported Curaçao in this endeavor. A motion introduced by Michiel van Nispen called for closer cooperation between the Netherlands and Curaçao to improve supervision and ensure compliance with international norms. The Dutch government has pledged ongoing support, particularly in areas like regulatory enforcement and technology sharing.
A New Era for Curaçao’s Gambling Industry
With the LOK in effect, Curaçao is poised to create a well-regulated and trustworthy gambling industry. The establishment of the CGA, combined with regular reviews and stakeholder engagement, ensures the new framework remains agile and responsive to emerging trends and technologies.
This collaboration between Curaçao and the Netherlands represents a major step toward fostering a sustainable and dynamic gambling environment. By addressing past shortcomings and embracing modern regulatory practices, Curaçao is redefining its role in the global gambling landscape.
Source:
Curaçao and the Netherlands to Collaborate on New Gambling Legislation, Curaçao Chronicle, January 2025.