WILLEMSTAD – MFK Member of Parliament Javier Silvania says Curaçao’s online gaming sector has the potential to generate significant government revenue that could be used to increase the old-age pension (AOV) to ANG 1,500 per month.
In a statement, Silvania responded to recent criticism surrounding the online gaming industry and argued that the sector can become an important source of income for the country if properly regulated and managed.
According to Silvania, the current debate must be placed in the correct historical context. He pointed out that the legal foundation for offshore gaming was created in 1993 through the Landsverordening op de Buitengaatse Hazardspelen (LBH), introduced when Suzy Camelia-Römer was Minister of Justice.
Under that legislation, four families became master license holders and were able to issue sub-licenses to hundreds of online casinos around the world. The fees paid by those online casinos went directly to the private master license holders, while the Curaçao government did not receive revenue from the sub-licenses.
Silvania argued that this structure resulted in millions of guilders in potential government income being lost over decades.
“Worldwide, governments issue licenses and collect annual fees that go directly into the national treasury. Curaçao was the only country that for 30 years allowed licensing to remain in private hands,” Silvania stated.
He added that successive governments, including PAR and MAN administrations, did not change the legislation.
According to Silvania, online gaming operated legally in Curaçao since 1993, but for many years the sector lacked direct government supervision. He argued that the previous system also contributed to international concerns about Curaçao’s reputation regarding anti-money laundering and combating the financing of terrorism.
New Gaming Law Changed System
Silvania said the situation changed under the leadership of former Minister of Finance Javier Silvania, when the old gaming framework was replaced by the Landsverordening op Kansspelen (LOK).
The LOK, which entered into force in 2024, transferred licensing responsibilities to the Curaçao Gaming Authority (CGA), formerly known as the Gaming Control Board. Under the new system, operators must obtain licenses directly from the government regulator and pay licensing fees to the government.
According to Silvania, within only a few months after the introduction of the new system, Curaçao received more than ANG 14 million in gaming license revenues.
He called on current Minister of Finance Charles Cooper to inform the public about how much revenue the government received from online gaming licenses in 2025 and 2026.
Silvania compared Curaçao’s opportunity with other jurisdictions, stating that online gaming has become a major economic contributor in places such as the Isle of Man, where the sector reportedly contributed significantly to the economy.
He described online gaming as a potential “golden egg” for government revenues if properly managed.
Potential Funding for Higher AOV
Silvania linked the gaming discussion to the government’s coalition agreement, which includes plans to increase the AOV pension.
According to Silvania, Curaçao has approximately 40,000 AOV recipients who currently receive only the basic pension.
To increase the monthly pension by ANG 500 to reach ANG 1,500, the government would need approximately ANG 240 million annually, based on his calculation.
Silvania argued that a properly regulated online gaming sector could contribute enough revenue to help finance such an increase.
“If Minister Cooper succeeds in resolving the existing issues, online gaming can generate sufficient income for the government to raise the AOV pension for our elderly citizens,” he said.
Banking Access Remains Challenge
Silvania also raised concerns about the difficulty online gaming companies face in obtaining local bank accounts.
Under the LOK, licensed online gaming operators must be locally registered companies, have an office in Curaçao and employ local staff in key positions such as compliance officers. They are also required to pay taxes in Curaçao.
However, Silvania said local banks currently do not allow online gaming companies to open accounts because the sector was historically considered high-risk.
According to him, this creates practical problems for companies that need to pay licensing fees and taxes to the government through local banking channels.
As a temporary solution, the government has reportedly maintained a foreign bank account to facilitate payments.
Silvania said that since the introduction of the LOK, the Curaçao Gaming Authority now has the necessary tools to supervise the sector and reduce risks related to money laundering and illegal activities.
He is urging Minister Cooper to meet with the Association of Banks, the Curaçao Gaming Authority and the Central Bank of Curaçao and Sint Maarten (CBCS) to explore whether licensed online gaming companies can obtain local bank accounts.
According to Silvania, this should be treated in the same way as previous arrangements made to allow tax debtors and their employees access to banking services.
“The sector must be properly regulated, supervised and integrated into our economy so Curaçao can benefit from the revenues it generates,” Silvania concluded.