Curacao to form new independent regulator

The pressure from Netherlands was too heavy for Curacao, the constituent country of the Kingdom of the Netherlands. Curacao’s economy is dependent on Netherlands especially the past months during which the European country has been providing the island nation with “liquidity support” to mitigate the economic impact of the COVID-19 pandemic. 

Curacao’s economy has been hit heavily, since it’s mainly depending on tourism, although the small island nation has its online gambling licensing regime. The fact that Curacao licensed online brands are targeting Dutch players is the main reason Netherlands insists that Curacao should tighten its gambling licensing rules.

Netherlands government announced that it had reached an agreement with its Curacao counterparts regarding “measures and structural reforms” intended to make the constituent country of the Kingdom of the Netherlands “financially, economically and administratively resilient.”

This means that Curacao is going to form a new independent regulator to oversee the gambling industry, including the issue of licenses to operators! According to the announcement, the new regulatory body will be ready by March 1, 2021. 

Curacao has agreed to ensure that its gambling licensees “act in accordance with the laws and regulations of the countries they target.” Also, the island nation will ensure that all gambling licensees pay their required taxes and fees.

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