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Curaçao Gaming Control Board responds to new licensing allegations
The Curaçao Gaming Control Board (GCB) has firmly denied recent allegations of corruption, fraud, and money laundering within its gaming licensing reforms. These accusations, brought forward by opposition politician Luigi Faneyte of the Real Alternative Party, claim that gambling licenses were issued without a legal basis, resulting in financial losses.
GCB’s Licensing Authority and Process
In response, the GCB clarified that since March 2020, it has held the authority to grant, amend, suspend, revoke, or deny licenses, as mandated by the Minister of Finance. The board emphasized that its licensing process is comprehensive, involving thorough due diligence, including sanction screenings, business plan evaluations, and initial website assessments. All license fees are paid directly into an official government bank account, eliminating opportunities for financial mismanagement.
Addressing Player Complaints and Dispute Resolution
The GCB also addressed concerns arising from the bankruptcy of BC.Game, a Curaçao-licensed crypto casino. The Court of First Instance declared BC.Game bankrupt in November 2024 after the operator failed to pay out to several players. The GCB noted that under current regulations, handling player complaints is the responsibility of the operators. However, with the forthcoming National Ordinance for Games of Chance (LOK), Alternative Dispute Resolution (ADR) will become mandatory, ensuring independent evaluations of such disputes.
International Compliance and Enforcement
Regarding fines imposed on Curaçao-licensed operators by foreign authorities—for instance, an €840,000 fine on BG Game by the Netherlands—the GCB stated it does not have jurisdiction over breaches of foreign regulations. The board relies on formal decisions from competent foreign authorities, and any enforcement actions depend on the severity of the violations.
Ongoing Investigations and Political Implications
These developments occur amid broader scrutiny of Curaçao’s gaming licensing practices. Faneyte’s report implicates Finance Minister Javier Silvania and former Malta Gaming Authority chief Mario Galea in alleged misconduct related to the licensing reforms. The report highlights the BC.Game bankruptcy as indicative of systemic issues within the licensing process.
As Curaçao continues to reform its gaming industry, the GCB’s commitment to transparency and adherence to legal protocols remains under close observation by both domestic and international stakeholders.
