Curaçao Amends Gambling Legislation Following Industry Criticism

Curaçao’s Minister of Justice, Javier Silvania, has responded to concerns raised by the Curaçao Bar Association regarding the National Ordinance on Gambling (LOK) by announcing amendments to the law. The move comes after the Bar Association strongly objected to some contentions provisions in the gambling law’s draft, particularly regarding lawyers’ accreditation requirements.

The Changes Are a Good Sign

Minister Silvania released a statement on social media acknowledging the concerns raised by the Bar Association and announced plans to revise the accreditation requirements outlined in the LOK. Instead of the previously proposed accreditation process, the minister stated that the jurisdiction would implement a non-mandatory certificate, significantly easing the regulatory burden.

Under the amended law, the Curaçao Gaming Authority will issue certificates to lawyers offering gambling-related services or goods to Curaçao license holders. The certificate, valid for up to three years, will replace the accreditation requirements for lawyers outlined in the law’s initial draft. Minister Silvania emphasized that the certificate would not be mandatory, providing flexibility for lawyers offering gambling-related services.

After careful consideration of your concerns regarding the accreditation requirements for lawyers in the LOK, I hereby inform you that the LOK will be amended in this regard.

Minister Javier Silvania

Another significant amendment to the LOK, as highlighted by Minister Silvania, is the establishment of financial independence for the Curaçao Gaming Authority. He addressed concerns regarding the supervisor’s lack of independence, prompting revisions to ensure monetary autonomy. The new measures will ensure the regulator is less susceptible to financial pressures, improving transparency and accountability.

The New Legislation Will Be Vital for Curaçao’s Future

In addition to addressing concerns raised by the Bar Association, Minister Silvania addressed criticisms from members of Parliament regarding the LOK documents. He noted that some MPs had not thoroughly reviewed the legislation and remained adamant that the new law represented a substantial milestone in the region’s ongoing efforts to reform its offshore gambling industry.

Silvania noted that the legislative changes aligned with Curaçao’s commitment to collaborate with the Dutch government’s Temporary Work Organisation (TWO). The TWO, tasked with overseeing Curaçao’s structural reforms, previously criticized the island authorities for their rushed gambling law process. Minister Silvania’s changes represent a step in the right direction, signaling that lawmakers are willing to consider stakeholder input.

Although Curaçao’s gambling reforms have caused some contention, they remain necessary to preserve the region’s status as an international gambling hub while ensuring effective regulation. The updated legislation aims to foster adequate anti-money laundering and terrorist financing prevention measures while providing the island with a sustainable revenue stream from gambling taxation.