Curacao is under great pressure because of the rules regarding gambling. The Netherlands has imposed huge pressure on Curacao to tighten its gambling rules. An announcement has been made by the Dutch government that it has gone through an agreement with Curacao focusing on the law enforcement of the Curacao gambling company license services.
Taking this measure was really very crucial as there were no effective structural reforms in the constituents of Curacao to provide online gambling licenses. It is found that taking a license from the authority of this island, online gambling owners were conducting businesses in some countries where they have no right to execute gambling operations.
Curacao is dependent on the Government of the Netherland administratively, economically, and financially. Therefore, this little island cannot disobey the mainland of the Netherland. A committee has been already formed which will work as the independent regulator in this little island to oversee the activities of the gambling companies which are under the licensing power of Curacao. A full regulatory body regarding iGaming will be formed by the 1st of March 2021.
Curacao has agreed to obey the direction of the Netherland and set the regulations and laws according to the demand of the mainland. Fees and taxation will be paid regularly by the gambling licensees and this has been ensured by this island nation.
Liquidity support is being provided by the Netherland to Curacao to ameliorate the financial disaster during Cond-19. This island nation is mainly dependent on its tourism sector for the financial need. The constant lockdown has made its financial pillar very weak and the economic improvement is really in a vulnerable position at present.
The Netherland government has become compelled to impose these strict rules on the casino licensees as Dutch punters are becoming the victim of the continuous target by the online gambling operators. If Curacao becomes unable to control the current conditions and fails to enforce the laws against the online operators, the third tranche of the economic package will be being withheld and this declaration was given in July. The island nation has accepted all the requirements of the Dutch government and continuously working to improve the laws to prevent online gambling operators from illegal activities.