WILLEMSTAD - The Gaming Control Board (GCB) of Curaçao has strongly rejected accusations of corruption, fraud, and financial mismanagement in the issuing of gambling licenses. Local politician Luigi Faneyte, of the opposition Real Alternative Party, filed a report with the Attorney General’s office on November 25, accusing the GCB of unlawfully issuing licenses, leading to significant financial losses.
Clarifying the Licensing Authority
Faneyte’s claims specifically targeted Curaçao’s Finance Minister, Javier Silvania, suggesting that licenses were granted without proper legal authority. In response, the GCB clarified its role, stating that it has held full responsibility for the licensing process since 2020 when the authority was officially delegated by the Minister of Finance.
“The GCB is fully empowered to grant, amend, suspend, revoke, or deny licenses, and to attach terms and conditions to these licenses. Allegations claiming we lack legal authority are therefore unfounded,” the Board stated. The GCB also detailed that its licensing process is rigorous, involving thorough document verification, background checks on decision-makers, and assessments of business plans and websites. The entire process is handled through the GCB’s secure online portal, allowing applicants to track their progress in real time.
Financial Integrity and Transparency
In response to accusations of financial mismanagement, the GCB emphasized that all licensing fees are paid directly into an official government bank account, ensuring full transparency. “There is no opportunity for embezzlement. Any suggestion of financial misconduct is incorrect,” the GCB explained. A license is only issued once payment is confirmed, eliminating any potential for misappropriation.
Player Protections and Future Safeguards
The GCB also addressed concerns raised following the bankruptcy of BC.Game, a Curaçao-licensed operator that failed to pay out player winnings. The Foundation for the Representation of Victims of Online Gaming (SBGOK) had filed a case against the operator. While the GCB clarified that player complaints are currently managed by operators, it outlined future plans under the National Ordinance for Games of Chance (LOK). This new regulation, expected to be fully implemented by 2024, will mandate Alternative Dispute Resolution (ADR) mechanisms, providing an independent platform for player complaints.
International Compliance and Enforcement
While the GCB oversees the licensing of operators based in Curaçao, it has limited jurisdiction over operators working internationally. The Board emphasized that Curaçao-licensed operators must comply with the regulations of the countries in which they operate. In cases of non-compliance, the GCB relies on formal rulings from relevant foreign authorities to guide enforcement actions.
Moving Forward
The GCB is actively working with global experts to ensure a smooth transition to the updated licensing framework under the LOK, which will see existing licensees move to provisional licenses by 2024. This phased approach is designed to ensure that operators comply with stricter regulatory standards, improving the overall integrity of the gambling industry in Curaçao.
As the GCB continues to modernize its practices, including the adoption of advanced technologies, it remains committed to upholding transparency and accountability within the industry. The Board's continued focus on strengthening regulations promises to enhance the reputation and sustainability of Curaçao as a key player in the global online gaming sector.
