Curacao is getting ready to introduce new changes to ensure sustainability as a part of the Dutch authorities’ donation package. Curacao is presently looking at recognizable steps and measures for virtual betting industry rules and regulations. This might also help regulate that sector. Curacao has now become a timetable for initiating their latest and improved gaming regulator on Mar 21.
Curacao has been wounded as tourism plummeted since the worldwide critical condition inflicted by the pandemic. The regional government looked for the mainland’s help. The Netherlands’ government has given their accord to deploy some liquidity backing for Curacao.
However, Curacao requires to refurbish and restructure its administration and financial measures to construct a resistance. The packages have become somewhat close to the betting restructure of that sector. It also has some regulations to overtake the existing framework and establish a new betting controller. Its operation is predicted to start early next year.
Tightening the Rules
Currently, the controlling landscape is not tight enough, and numerous operators have been using it as their base. The Curacao Gaming Control Board has become concerned about it. The board will have time until this year’s 2021 to enforce all the holders of its license’ responsibility.
Prior to this, all the casinos, whether it is land-based or virtual, did not have to pay much for getting a Curacao license. Getting a license issued by Curacao was very easy, and so there are numerous casinos running with this license. The Curacao gaming authority doesn’t extract any extra facilities or money for issuing so many casinos.
Curacao is now also thinking about issuing a gaming license. The latest mechanisms actually need to get developed from licensed businesses to receive taxes and fees.
The controller may become responsible for virtual betting along with the land-based segment.