Cura\u00e7ao was an early adopter of online gaming. It began licensing operators in 1996, at the very dawn of the industry. In fact, it has been using the same four licenses ever since.<\/p>\n
The government has only ever issued four master licenses, which give their holders the power to grant sub-licenses to pretty much anyone. The master licensees — Cyberluck Cura\u00e7ao, Gaming Cura\u00e7ao, Cura\u00e7ao Interactive Licensing, and Antillephone — also supply turnkey online gaming solutions to prospective operators.<\/p>\n
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Sub-licenses are relatively inexpensive and quick and easy to acquire. Once an operator is up and running, taxes are low, regulatory oversight is almost non-existent, and operators are free to target whichever markets they wish, regardless of the laws in those markets. \u00a0<\/strong><\/p>\n<\/div>\nNot all operators licensed in Cura\u00e7ao are bad.\u00a0 But those that are can thrive in a jurisdiction where oversight is slack.<\/p>\n
New Enforcer <\/strong><\/h2>\nNow, with its economy expected to shrink by 30 percent, Cura\u00e7ao has little choice but to accept the terms that accompany the financial aid package. The island\u2019s government has been given until September 2021 to establish a gaming control board. That will be charged with ensuring that all Curacao license holders \u201ccomply with the laws and regulations in which they operate.\u201d The regulator will also be required to rigorously enforce anti-money laundering measures.<\/p>\n
The news was welcomed by Dutch member of parliament Ronald van Raak, who claims inadequate oversight of the sector is threatening political stability in the Dutch Caribbean.<\/strong><\/p>\n\u201c<\/strong>International crime is so great on the islands that malicious politicians have a lot of power and money, and well-meaning people have no chance,” he told the Dutch parliament.<\/p>\n\u201cOn Saint Maarten, Cura\u00e7ao, and increasingly also on Aruba, you see that the underworld, the gambling mafia, is the boss. Especially with online gambling, you see that billions are being laundered, mainly drug money,” he claimed. “It is a system that is kept up and running by KPMG, by banks, by Dutch tax specialists. “<\/p>\n","protected":false},"excerpt":{"rendered":"
Cura\u00e7ao\u2019s days as a haven for shady online gambling sites may be numbered. A financial bailout package from the Dutch government this month comes with conditions — the island has been told to clean up its act. Travel restrictions imposed to combat the spread of the coronavirus have decimated the Caribbean island\u2019s tourism industry. Earlier […]<\/p>\n","protected":false},"author":36,"featured_media":155338,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,61],"tags":[],"acf":[],"yoast_head":"\n
Cura\u00e7ao Vows to Clean Up Its Act in Return for Dutch Rescue Package<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n