Curaçao Sets Its Sights High: Aiming for Global Acclaim with Revolutionary Gambling Legislation!

CURAÇAO – Making waves in the international gambling community, Finance Minister Javier Silvania proclaimed the monumental significance of Curaçao’s innovative gambling legislation. The ultimate goal? To shield the nation from the looming threat of FATF grey-listing.

Speaking at the coveted SiGMA Curaçao event, Silvania passionately emphasized that this legislation wasn’t about disruption but rather paving the way for a transparent, responsible, and flourishing future for Curaçao’s gambling landscape.

“We’re setting the stage for a Curaçao that is transparent, holds itself accountable, and thrives,” Silvania conveyed with conviction. Addressing the concerned operators, he stated, “Change can be daunting, especially when they challenge the status quo. But rest assured, our vision is to elevate, not dismantle.”

Detailing the triple-fold advantages—economic, social, and reputational—he stressed that Curaçao’s global standing as a giant in gambling operator numbers hasn’t truly reflected its potential economic windfall. Citing figures, he noted the stark difference between Malta’s licensing revenues of €82m and Curaçao’s mere €250,000 in the same period.

Drawing parallels with other jurisdictions like Malta, Philippines, and Isle of Man, he highlighted how online gaming has revolutionized economies, shifting them from predominantly tourism-based models to diverse, robust economic powerhouses.

However, above all else, Silvania underscored that Curaçao’s reputation hangs in the balance. With jurisdictions like Malta and Gibraltar previously coming under FATF’s scanner, the urgency for Curaçao to fortify its AML framework has never been more palpable.

“The reality of a potential grey-listing due to our AML lacunae in the gambling sector is a pressing concern,” Silvania admitted. “To preserve our reputation, it’s imperative we take decisive actions now.”

Marking the dawn of a new era, Curaçao has initiated a transition phase where existing licensees must reapply to uphold their online gambling licenses under this revamped system.

In another strategic move, Curaçao Gaming Control Board (GCB) recently welcomed Hilary Stewart-Jones as an advisor. Boasting a rich pedigree in gambling law and software, her appointment further signifies Curaçao’s unyielding commitment to raising the bar in global gambling standards.