Curaçao, a Dutch Caribbean island, is known for its beaches tucked into coves and its expansive coral reefs rich with marine life. The Island nation became independent from the Netherlands in 2010 and is now called a constituent country of the Kingdom of the Netherlands. Among other attributes the island has one of the oldest running online gambling regulators and as such is a fairly well-known e-gaming regulator. Online casinos that display the Curacao eGaming license on their websites have been through the initial investigation process and are regularly audited by Curacao authorities.
The government recently announced its intention to completely overhaul the online gambling licensing system currently in use as a sector of a federal financial rescue program. The pandemic has severely impacted the tourism sector of the island’s economy and created a financial need for aid from Amsterdam which asked Curacao to overhaul its online gambling licensing rules as a condition in order to receive aid.
The need restructuring will involve the Curacao Gaming Control Board which will establish a new regulatory body that will restructure online gambling licensing conditions. This new body is expected to be launched by March before being given another six months to completely bring all of the domains competing for a licence in line.
The Curacao Gaming Control Board is expected to create a stricter set of anti-money laundering rules and begin diligently collecting the license fees and taxes. The regulator is also expected to institute revised protocols against the funding of terrorist organizations as well as more comprehensive rules governing the island’s terrestrial casinos.
The new regulatory system may cause concern for online casino operators that have taken advantage of the convenience offered by the old system which was allegedly lacking in a serious approach to the rights of consumers. The island may experience a loss of domains should the new regulatory body make it difficult to obtain and maintain an online gambling business.
