WILLEMSTAD – The Parliament of Curaçao has approved the law regulating online gambling, known as the Landsverordening op de Kansspelen (LOK), with thirteen votes in favor and six against. This new legislation aims to establish a more transparent and stringent framework for the island’s online gaming industry, which, according to Finance Minister Javier Silvania, promises significant government revenue. 

The law’s approval follows a challenging process during which concerns were raised at both local and international levels. Key issues included doubts about whether the government would actually receive the projected revenues, the reliability of license holders, and the risks of misuse. Even the Dutch government expressed skepticism about the expected financial returns. 

Minister Silvania vigorously defended the legislation, emphasizing that the gambling industry could generate at least 40 million guilders annually in licensing fees for the government. He explained that 200 licenses have already been issued, with an additional 1,000 applications pending. Moving forward, license holders will be required to pay a minimum of 120,000 guilders to obtain a permit. The minister justified this fee by highlighting the multi-million-dollar scale of gambling transactions. He remarked that businesses unable to afford the fee should consider exploring other industries. 

Silvania stressed that licenses would no longer be easily obtainable and that only companies meeting strict criteria would be granted permits. This measure aims to prevent criminal organizations from exploiting regulations to launder money. 

The expected revenue from the gambling law is earmarked for various social causes. Funds will be used to improve the quality of life for disadvantaged citizens, support sports initiatives, and create employment opportunities. Some parliamentarians have even proposed allocating part of the funds to increase the minimum pension from 862 guilders to 1,500 guilders per month.