The Netherlands exerted pressure on the regional government, and then Curacao-licensed virtual casinos were about to find themselves on a shorter leash.
The government of the Netherland proclaimed that it had come to an agreement with its Curacao counterparts on “structural and measure reforms.” The agreement was intended to resilient the Kingdom of Netherlands economically, financially, and administratively.
Curacao has been being provided support by the Netherlands, which is called “liquidity support.” The island has been receiving this support since April so that it can mitigate the structural and economic impact the COVID-19 has exerted on it. Though the island nation is very much dependent on tourism, it also has a strong gambling regime.
Demand for a Stricter License System
The Netherland proclaimed that the country’s pandemic bailout wouldn’t go further without an obligation. This proclamation came in July, and indicating on Curacao’s failure to abide by some particular conditions, it stated that such failure meant the withheld of the bailout’s third tranche.
Later in October, Curacao came to an agreement and complied with all types of requests that were made by the Netherlands. One of those requests includes the restructuring of the Curacao licensing rule.
Among all those requirements to suppress economical and financial crimes was ensuring that Curacao’s enforcement of the regulations and laws that relate to the issuing license for the new casinos and gaming ventures. The Netherlands had set a deadline for Curacao to meet all their requirements. Curacao’s success would end the present system by which numerous telecom operators and other types of licensees were issuing sub-licenses to thousands of gaming and betting sites. Most of these sites could operate their activities without undergoing any supervision.
However, this scenario is about to come to its end as the authority of Curacao Gaming has agreed to check if their license matches the rules and regulations of the country associated with the license requesting company.
The Netherlands authority had been trying to convince Curacao to strict its gaming license for a long while.