Curaçao Minister of Finance: First Direct License Is in Line with the LBH  

Curaçao’s Minister of Finance, Javier Silvania, defended the decision to provide Rhino Entertainment Group with the region’s first direct license amid LOK-related concerns. Some critiqued the licensing of the company as it precedes the formalization of the territory’s new gambling laws.

For reference, Curaçao is currently discussing the National Ordinance for Games of Chance (LOK), a measure that seeks to improve the gambling industry’s standards through direct licensing and better regulation.

While proponents of the measure have highlighted its benefits, opponents are skeptical of certain points. The Dutch government is also conducting an investigation to see if the LOK complies with an earlier deal.

Because of criticism from parliament members, the Curaçao Bar Association and the Advisory Council behind the legislation, the measure is currently being amended. Silvania himself confirmed that the objections of parliament members have been taken into mind and that the LOK will be adjusted where needed.

As a result, Curaçao MP Steven Croes questioned whether the government should have issued the first direct license before the passage of the new law. He also asked for a copy of the license but couldn’t obtain it because of the sensitive information it contained.

Silvania Says the New License Falls Under the LBH

Despite the criticisms, Silvania stood firm by the ministry’s decision to grant the license, pointing out that it falls under the 1993 Offshore Gambling Ordinance (LBH). The Minister of Finance added that the latter law remains fully applicable unless it is repealed by the national ordinance.

Silvania said that the LOK would provide Curaçao with direct control over the issuing of licenses, allowing the territory to exercise direct supervision. This would allow the Gambling Control Board to carry out the necessary checks and prevent gambling-related fraud.

The LOK, Silvania argues, would increase confidence in Curaçao’s gambling industry by reducing the risks of criminal practices.

For reference, Curaçao previously issued licenses to six master license holders, who would then issue sub-licenses to other companies. However, sub-licensees were impossible to properly regulate. Furthermore, the previous law itself is short, not sufficiently clear and outdated, highlighting the need for a new licensing framework.

Despite that, the future of the LOK remains murky.