Financial Board Questions Curaçao Estimate Of €20.7m In Gambling Revenue

September 14, 2023
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Curaçao expects the equivalent of €20.7m from gambling licensing fees from 2024, but a financial board asked for advice and questioned the estimates due to delays in passing enabling legislation.
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Curaçao expects the equivalent of €20.7m from gambling licensing fees from 2024, but a financial board questioned the estimates due to delays in passing enabling legislation.

The Curaçao Ministry of Finance projected revenue from fees of NAG$40m (€20.68m), according to a draft budget from the ministry.

But the Financial Supervision Board of Curaçao and Sint Maarten wondered whether the estimate was realistic, given delays in passing legislation.

From November 15, the Gaming Control Board will be accepting applications for online gambling licences. 

An informational portal was launched on September 1, but registration is not possible until November 1.

Applicants are required to have representation in Curaçao.

Current sublicensees can continue to operate under a transition period if they are deemed to be “indeed legally established in Curaçao and legitimately operating under an existing license”, according to the control board.

Licensing conditions so far include verifying identity of players, ensuring they have a chance to self-exclude and set playing, deposit and time limits.

It should also have a “transparent, simple and free procedure for handling complaints”.

Fees have not yet been set.

The Ministry of Finance is co-sponsoring a conference in Curaçao in conjunction with the Cyprus-based SiGMA organisation, from September 25-27, a conference which is billed as informational.

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