Assisted by funding from the government of the Netherlands, the Dutch Caribbean dependency of Curaçao has accelerated its schedule for revamping its online gaming licensing regulations.
The island received assistance from the Dutch government in 2020 due to problems created by the Covid pandemic. In return, the government asked for frequent updates on reforms the island is undertaking, reported iGB.
The existing system contracts licensing out to four private companies that each have a “master license.” The system offers few barriers to obtaining a license with not much scrutiny once the license is in hand. Under pressure, that easy going regime seems likely to fall.
In addition, the island is contemplating introducing strict regimens for combating money laundering. They include requiring licensees to require that “key” employees work on the island.
This may force some operators to leave, Finance Minister Javier Silvania told iGB, which is OK with him.
One of the quarterly updates noted that the new bill should be ready to present to parliament in February of this year. That could be delayed in order to give stakeholders more time to comment.
