Curaçao gaming regulator faces integrity concerns

• The Public Prosecutor’s Office is looking into Curaçao Gaming Authority’s activities, as reported by Antilliaans Dagblad and Next.io.
• Financial supervisor Cft flags integrity issues around the CGA and tax collector in its latest budget oversight letter.
• The iGaming industry could face uncertainty under the new LOK framework.

The Curaçao Gaming Authority (CGA), the regulator responsible for online gambling under the new LOK framework, is reported to be under investigation by the Public Prosecutor’s Office (Openbaar Ministerie, OM), adding fresh uncertainty for the island’s iGaming framework.

The development comes as the Financial Supervision Board for Curaçao and Sint Maarten (Cft) formally warns about integrity concerns around the CGA and the tax collector in its reaction to Curaçao’s third 2025 budget implementation report.

Cft flags integrity risks

The letter, now available online, notes that the Cft it has picked up “signals” that integrity is a matter of discussion at the CGA and at the Tax Administration, and links this to recent media reports on possible integrity issues at both entities.

The Cft states that integrity within government bodies and state entities is a key element of sound financial management and therefore falls within its supervisory remit.​

The same letter records that Curaçao’s central government currently shows a provisional surplus of 238 million Curaçao guilders on its ordinary service for the first three quarters of 2025, exceeding the amount budgeted for that period.

The supervisor cautions, though, that spending on “subsidies and transfers” is running 72 million guilders above the year-to-date budget, and asks for a detailed explanation and outlook for year-end.

OM probe into CGA

Dutch‑language outlets on Curaçao report that the OM has opened an investigation into the activities of the CGA, which is responsible for implementing the LOK and issuing online gambling licences.

Media coverage indicates that this criminal investigation comes on top of earlier inquiries into former finance minister Javier Silvania and former tax service head Alfonso Trona over alleged irregularities and preferential treatment.

These reports state that the Cft’s November letter is the first formal document in which a public body confirms that the OM is looking at the gaming authority.

At the same time, subsequent reporting notes that both the justice minister and the finance minister have been informed by the CGA that the authority itself is not aware of any ongoing OM investigation into its operations.​

Licence fee revenues and LOK implementation

The Cft highlights that Curaçao’s third 2025 implementation report does not separately disclose income from gambling licence fees, which fall under “other revenues”.

It notes that it has been informed that revenues from online gambling operators reached 54 million guilders to the end of the third quarter, compared with a budgeted 30 million guilders, and asks the government to structurally explain these figures in future reports.

Under the new LOK framework, online operators are required to obtain licences from the CGA, replacing the previous master licence model and positioning Curaçao as a more transparent iGaming hub.

Industry advisers say the updated regime is intended to improve compliance, enhance anti‑money laundering controls and support access to international banking and payment services.

Curaçao Government unhappy with Cft’s letter

The Curaçao government, through Finance Minister Charles Cooper, has expressed concern over these unverified rumours about an investigation into the Curaçao Gaming Authority (CGA).

In a formal letter responding to the Cft, Cooper criticised the board for making claims that he described as “unconfirmed, at least not publicly known, improperly made and extraordinarily careless.”

“Since you couldn’t have obtained that information from official channels, you should have refrained from including such a statement altogether,“ Cooper wrote in his letter.

“By failing to do so, you submitted a criminal suggestion against a national supervisory authority and a ZBO (National Administrative Authority) in a formal document, without factual verification and without any prior consultation with me, the Minister of Justice.“

He highlighted that neither the CGA nor the government had any official information about such an investigation, and warned that spreading speculation could damage the island’s financial stability and reputation.​

Cooper emphasised the need for careful communication and transparency, stating that the Cft should have refrained from including speculative allegations in its formal report without proper verification or discussion with the relevant ministries.​

Implications for the island’s iGaming hub

Reports of an OM investigation and the Cft’s explicit integrity warnings add pressure on Curaçao as it seeks to reposition itself as a credible, rules‑based jurisdiction for online gambling.

For operators and investors, the situation introduces regulatory uncertainty around the CGA’s governance and long‑term stability, at a time when many are transitioning licences into the new framework.

The way Curaçao addresses these integrity concerns and communicates outcomes of any investigations will influence how other regulators, payment providers and international partners view operators licensed on the island over the coming years.​

​Following the metheoric rise of the UK gambling duties, industry analysts indicate that offshore jurisdictions like Curaçao may regain popularity in the upcoming future if the LOK framework is implemented succesfully and the country upgrades its status to a stable jurisdictions with strong consumer protections, like Malta.