WILLEMSTAD – Former Finance Minister Javier Silvania is warning that public criticism of Curaçao’s online gaming industry could damage the island’s reputation as it seeks to establish itself as an internationally recognized gaming jurisdiction.
Silvania defended the decision to use foreign expertise during the implementation of the National Ordinance on Games of Chance (LOK), arguing that international experience was necessary to build a modern regulatory system.
According to Silvania, Malta followed a similar path more than 20 years ago by modernizing legislation, strengthening supervision and creating an internationally respected licensing system.
He said Curaçao faced a choice: either build a new regulator and technical platform without existing local expertise or involve specialists from jurisdictions that had already successfully completed similar reforms. Silvania said the second option represented responsible governance.
Silvania defended Random Consulting, stating that the company was selected because of internationally recognized expertise in gaming regulation. He said the company played a role in developing regulatory frameworks in Malta, New Jersey and Georgia and advised regulators in several other jurisdictions.
He warned that online gaming has the potential to contribute significantly to Curaçao’s economy, noting that the sector currently generates substantial licensing income and can create employment, attract investment, generate tax revenue and strengthen economic resilience.
Silvania criticized what he described as attempts to politicize the industry, saying negative headlines and unsupported statements could affect investors, online gaming operators, financial institutions and governments abroad that follow developments in Curaçao.
He concluded by calling for transparency and accurate information, arguing that before launching investigations based on what he considers incorrect information, government should allow the CGA to provide the public with factual details about the matter.