A well-known gambling jurisdiction could be heading for a shake-up after a leading politician announced his intention to bring forward online gambling legislation.
Kenneth Gijsbertha, who serves as Finance Minister for the Curacao government, was speaking at ICE London 2020. He was discussing the online gambling situation in the country and said that the gambling industry has the potential to become a significant driver of economic progress.
The online gambling sector in Curacao is one of the best known in the world. Curacao licences are widely held throughout the global online gambling industry, and it has become one of the most popular licensing centres in the industry. But despite having operated for over 25 years, there is no supervision or legal requirements associated with holding a licence. The licences themselves are effectively illegal and are not overseen or controlled by the Curacao government.
Speaking in London, Gijsbertha said that it was important for Curacao to bring forward new legislation for the sake of the local gambling industry, which he said could be a significant contributor to the local economy and a major source of revenue for the Curacao government.
But he also highlighted some of the problems associated with the current gambling sector, emphasising that at present, it was controlled by a relatively small number of individuals. This meant that there had to be some doubt about how much the country could benefit from full legalisation.
But there have been reports that some significant players in the political and economic sectors in Curacao are keen to explore the potential for gambling legalisation in the territory. In particular, full legalisation could lead to greater competition as other countries enter the market. It is also likely to have a knock-on effect for global operators who currently hold Curacao licences, so this is one area of potential political change that will be keenly watched throughout the gambling sector.