WILLEMSTAD - The new legislation for the gambling sector in Curaçao may be delayed. That is according to Minister Silvania in conversation with the representatives of the website iGaming.  

“We are currently aiming to adopt the national ordinance and the national decree in March 2023. However, this depends on a number of factors over which we have no influence. Therefore, we cannot guarantee that the legislation will enter into force in March 2023.”  

It is not said exactly what the factors are. But radical reforms could mean that the island's licensed businesses move elsewhere and operators are already working on backup plans if Curaçao transitions to new legislation. 

Silvania says the island is well ahead in the process of adopting the industry's suggestion of a step-by-step regulatory reform, rather than a massive overnight overhaul.  

“The biggest challenge is certainly finding the perfect balance between the needs of the government and regulators, the operators, the trust sector and of course the player.”  

Curaçao has in any case included a transition period in the national ordinance for providers that currently offer online gambling services with a Curaçao license.  

Scope  

According to the minister, caution is required when it comes to estimating the size of the sector. According to him, this is not properly regulated and it is therefore difficult to provide insight into the size.  

The national ordinance that regulates (online) games of chance has already been drawn up, as has the associated national decree. The law has been reviewed by the government's legal department and their comments are currently being passed into law, Silvania said.  

But crypto gambling has not yet been included in the legislation, according to the Minister of Finance, and offering these services will not be possible for the time being with a Curaçao license.  

Furthermore, the Ministry of Finance is currently consulting the Curaçao trust sector for their latest comments on the content of the law. Over the next six months, the law will go through the final stages of the legislative process, ultimately leading to a vote in parliament.  

According to IGaming, operators fear that Curaçao's new gambling laws will introduce deposit thresholds and require player identification obligations.