Curacao Passes New Gambling Law Amid Controversy

Cucacao has adopted new regulatory policy as it applies to the gambling sector.

The Caribbean nation is among the largest and oldest serving online gambling firms across the globe.

More recently, Curacao has been center stage of the BC.Game debacle whereby the island nation found that gaming company to not have adequate funding reserves.  BC.Game insists they are okay financially. 

Small House B.V took over operations of the BC.GAME website brand previously owned by BlockDance B.V on April 30 of this year.. All payment services related to Small House B.V. are processed by Fenice Tech Limited [HE416055], located at Griva Digeni, 81 Marinos Court, 3rd Floor, Flat/Office 301, 6043 Lárnaka, Republic of Cyprus.

The Joint Court of Justice of Aruba, Curaçao, Sint Maarten, and the BES islands declared Small House BV bankrupt earlier in the month, according to court documents seen by NEXT.io.

Its Curaçao license was only issued on February 22 of this year.

The primary goal of the new legislation is to replace the outdated two-tiered licensing system, which allowed sub-licensing practices under four master license holders, with a more centralized regulatory framework. Under the new system, a revamped gaming authority will directly oversee online gambling licenses, ensuring greater accountability and oversight.

The new law was passed 12-6 by the majority in parliament.

Recent Scandal

World Casino Directory highlighted the current controversy involving Curacao.

The reform efforts come amid allegations of misconduct and licensing irregularities that have shaken the industry. Opposition politician and forensic financial investigator Dr. Luigi Faneyte has filed two complaints with the Public Prosecutor’s Office, alleging corruption and mismanagement within the Curaçao Gaming Control Board (GCB) and other entities.

Faneyte’s complaints also extend to international authorities, including the Malta Gaming Authority, the FBI, and the Czech Ministry of Justice, signaling the far-reaching implications of his accusations. The evidence he presented includes a transcript of a recorded conversation that allegedly exposes a conspiracy involving an online gaming operator attempting to evade legal accountability.

Faneyte’s actions have drawn sharp criticism from Curaçao’s Minister of Finance, Javier Silvania, who dismissed the allegations as baseless. Silvania accused Faneyte of damaging the island’s reputation by sharing unverified claims with international media. “You only harm the island. You only base yourself on suspicions. That’s what I call gossip,” Silvania said, defending the integrity of the reform process and urging patience for legal investigations to proceed.

By  Gilbert Horowitz Gilbert is the esteemed reporter for Gambling911 covering all gamuts of the industry.  He has been with the site for the better part of a decade.  Gilbert works out of the Miami Beach bureau.