Amid pressure from the Netherlands, Curacao will tighten gambling licensing rules.
Curacao will create a new independent regulator that will be tasked with overseeing the gambling industry and issuing licenses to interested iGaming operators. The new authority will be ready by March 2, 2021.
Curacao will ensure that its gambling licensees “act in accordance with the laws and regulations of the countries they target.” The island nation will also force licensees to pay taxes and fees.
The Netherlands has been providing Curacao with financial support since April to help with the devastation wrought by the Covid-19 pandemic. The island depends on tourism for much of its revenue. In July, the Netherlands declared that its pandemic bailout was “no longer without obligation,” and Curacao’s failure to agree to certain conditions meant the third portion of the funds will be withheld.
