The Dutch government has stated that Curaçao is working on a revised timeline for its revamp of igaming licence as a result of stakeholder feedback on the bill.
When Curaçao received funding from the Dutch government in 2020 as a result of the impact of Covid-19, the Netherlands requested updates on key island improvements in exchange.
Gambling reforms in Curaçao
These updates offer information on Curaçao's online gaming regulatory revisions. In Curaçao, licencing is currently handled by four private businesses, each of which holds "master licences" provided by the government.
The current regime was largely regarded as one of the most free systems in existence, with low entry hurdles and little oversight for operators. However, under the current guidelines, this appears to be changing.
In addition to strengthened anti-money laundering measures, licensees will be expected to hire at least three staff in "key positions" on the island.
Finance Minister Javier Silvania stated that some operators may be compelled to quit once the new licences are implemented, but he has "no problem" with that.
The most recent revision
Quarterly updates from the Dutch government have provided information on the status of these measures.
The revised bill should be "ready for presentation to Parliament in February 2023," according to the Q4 update, however it was emphasised at the time that the schedule could be pushed back owing to input from important stakeholders.
However, the Q1 2023 report mentions that stakeholder feedback has had an effect on the timeline.
The government stated in the update that the Temporary Work Organization - the Dutch government entity in charge of implementing the Covid changes - "is currently expecting an amended timeline from the [Curaçao] Ministry of Finance."
"A new schedule with the procedures leading up to the coming into force of the new law is being agreed upon by the Ministry of Finance and shared with the Netherlands," the memo continued.
The revised schedule was supposed to be completed by January 1st, according to the paper released in December, so it may already be in place.
"In accordance with an agreement between the Minister of Finance of Curaçao and the Minister of Legal Protection of the Netherlands, official consultations on the progress of the [gaming bill] will take place in January," it said.
By fLEXI tEAM