WILLEMSTAD – Minister of Finance Charles Cooper says the government will begin investigating financial arrangements within Curaçao’s online gaming sector, including why a private company linked to an individual identified as M. Galeo allegedly receives ANG 8.3 million annually.
In a statement, Cooper said that now that the Curaçao Gaming Authority (CGA) falls under his responsibility and that of Minister of Justice Shalten Hato through an official mandate, the government will address outstanding issues in the online gaming sector “step by step.”
The minister acknowledged that the Landsverordening op de Kansspelen (LOK), the new gaming legislation, is already in its third year of implementation. He questioned why certain issues are only now being identified as urgent.
“If there were urgent matters that needed to be addressed, the question arises: why were they not tackled earlier?” Cooper stated.
However, he emphasized that the government’s immediate focus will be on launching an investigation into several questions surrounding the online gaming industry.
One of the main issues concerns an annual payment of ANG 8.3 million to M. Galeo or his company. According to Cooper, this amount represents more than 35 percent of the total licensing revenue received by the government.
“The question we want answered is: what exactly does M. Galeo do that justifies a payment of this amount?” Cooper said.
He added that the government also wants clarity about whether a public tender process took place before the agreement was established and what services are being provided in exchange for the payment.
The minister also raised questions about the location and management of customer databases related to companies licensed by the CGA.
“Where is our database of clients that have licenses with CGA? Is it in Curaçao, Malta, London, or somewhere else?” Cooper questioned.
According to Cooper, payments of ANG 8.3 million per year for this type of service appear unusually high when compared with international practices in the gaming industry. However, he stressed that the investigation must be allowed to determine the facts before any conclusions are drawn.
“The investigation must run its course. After the results are available, we will determine the next steps based on those findings,” Cooper stated.
The minister said the government’s objective is to strengthen oversight of the online gaming sector and ensure that Curaçao receives proper value from an industry that generates significant international revenue.