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One of the leading regulators of online gambling sites in the world, Curaçao, has come under attack in recent days.
Curaçao’s Gaming Control Board (GCB) has hit back at allegations that its gambling licensing reform is littered with instances of corruption, fraud and money laundering.
The highly regarded regulator issued a scathing letter denying said claims.
iGaming Business reports that the claims GCB refers to were made by local politician Luigi Faneyte, who is a member of the opposition Real Alternative Party. Fanayte filed a report with the attorney general’s office on 25 November claiming that gambling licenses have been issued without legal basis, which has led to financial losses.
Licensing falls entirely under the GCB’s jurisdiction as mandated by the ministry of finance in December 2019.
“The GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licenses. The allegation that the GCB lacks the legal authority to grant licence is therefore incorrect,” it said.
Curaçao was among the first regulatory jurisdictions for the online gambling sector during the mid-1990s and has evolved since that period. Some of the island nation's early operators included popular brands Pinnacle Sports, Royal, VIP and GameDay.
Curaçao suffered a blow to its reputation early on when Texas race horse owner Charlie Therwhanger picked up his bags and abruptly left the beautiful island in 2002, shutting down Aces Gold. He left numerous players AND sportsbooks unpaid.
Now the island is dealing with another shaky operator, BC.Game. The Leicester City shirt sponsor is said to be in dire financial crisis, according to widely circulating reports. That's prompted Curaçao to consider revoking its gaming license.
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