Curaçao partners with Netherlands to overhaul gambling sector under new law

Curaçao and the Netherlands have agreed to collaborate closely on the implementation of the island’s newly approved gambling law, the Landsverordening op Kansspelen (LOK), in a move aimed at bolstering transparency and curbing illicit activities in the sector.  

The law, which came into force on December 24, 2024, seeks to better regulate Curaçao’s gambling industry, tackling issues such as money laundering and undermining activities.

Effective collaboration between Curaçao and the Netherlands is crucial for the successful implementation of the law, Curaçao’s Finance Minister Javier Silvania said following a recent meeting with Dutch Justice Minister David van Weel and State Secretary for Kingdom Relations Zsolt Szabo.  

Central to the agreement is a partnership between the Curaçao Gaming Authority (CGA) and the Netherlands Gambling Authority (KSA). The two regulatory bodies will share expertise and best practices to strengthen oversight and ensure compliance with international standards.  

The governments also plan to hold semi-annual consultations to review progress, alongside regular stakeholder meetings involving the Public Prosecutor’s Office, Financial Intelligence Unit (FIU Curaçao), and the Joint Investigation Team.  

The collaboration aligns with a motion by the Dutch Parliament that called for tighter regulations and enhanced supervision of Curaçao’s gambling sector, said van Weel. He reiterated the Dutch government’s commitment to supporting the island’s regulatory overhaul.  

The LOK reforms stem from broader legal changes tied to COVID-19 relief provided by the Netherlands. The assistance required Curaçao to clean up its gambling industry, which has faced allegations of corruption and lax oversight.  

The passage of the law follows a licensing scandal involving accusations by opposition politician Luigi Faneyte, who claimed gambling licenses were issued prematurely by Curaçao’s finance ministry.  

The reforms are expected to enhance the integrity of Curaçao’s gambling industry by promoting accountability and reducing illegal activities.