Curacao's Finance Minister (Key Driver Of New Changes) Under Fire For "Conflict Of Interest"

[Smithyy]

So, just as things were slightly looking up for Curacao getting their act together, their Finance Minister - the man driving the change - has come under fire from local Curacao media for "conflicts of interest" - namely his involvement with the WPT (World Poker Tour).

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(In Dutch, but easily translatable to English/other languages.)

Some interesting comments on the article from local Curacao residents:

The new gambling legislation appears to have been dictated by the licensees and the minister has duly written it down. As a sweetener, they have promised the minister several millions, but probably expect him to promote gambling site options in Curaçao so that these millions can be recouped.
In other words, licensees are happy, the Country of Curaçao is happy with the millions, the minister is happy with pleasure trips to Malta and GB and has a part-time job promoting the gambling industry, and Minister Weerwind can go to the boom because he is outgoing and we are independent as a country. Nothing changes and in the land of the blind one eye is king and they are the license holders.

The gambling mafia has still infiltrated the government. Nothing new.

It's worth noting that Curacao is hosting a "major event" from 25-28 September where they are supposdley going to be announcing the full details of the new rules - but as another Curacao resident said:

The LOK was supposed to come into effect on September 1 anyway, but we are already at the end of the month, nothing more is said about that, but a major poker event is organized with an invitation from the Ministry of Finance. That is very remarkable! That is only possible on Curacao.

Thoughts?

 

[dunover]

So, just as things were slightly looking up for Curacao getting their act together, their Finance Minister - the man driving the change - has come under fire from local Curacao media for "conflicts of interest" - namely his involvement with the WPT (World Poker Tour).

You do not have permission to view link Log in or register now.

(In Dutch, but easily translatable to English/other languages.)

Some interesting comments on the article from local Curacao residents:





It's worth noting that Curacao is hosting a "major event" from 25-28 September where they are supposdley going to be announcing the full details of the new rules - but as another Curacao resident said:



Thoughts?

It's like Benny Hill doing a mafia sketch.

The tail is wagging the dog.

Every time the turd dries a bit and becomes slightly less offensive, some idiot breaks the outside crust to release another blast of foul emission.

(Because as I keep saying ad infintum, it is a turd, always was a turd and always will be. Only a total slackjaw would be surprised by any of this.)

We once had a brilliantly witty political satire comedy series in the UK back in the 1980's called 'Yes Minister!' Perhaps the 21st. century version could be 'Yes Curacao Finance Minister'

 

[goatwack]

It's a bold move. Provide a welcoming environment for the most 'influential' types in that neck of the woods, then watch who's willing to be the most 'incentivizing' before settling on any new rules!

 

[Smithyy]

It's a bold move. Provide a welcoming environment for the most 'influential' types in that neck of the woods, then watch who's willing to be the most 'incentivizing' before settling on any new rules!

It could definitely be heading that way - we should know in the next day or two, as the 27th/28th is when SIGMA is taking place in Curacao, and that's when the finalised regulations are supposed to be announced.

FWIW, my (brief) research into the current Finance Minister makes me believe he does genuinely want things to change; although everybody does have their price.

There's also the issue of how the Dutch Government will react if Curacao fail to make significant changes. Posted in one of our staff channels earlier:

So, basically the only way things are actually going to change is if the Dutch Government do a full intervention, perhaps

 

[dunover]

What will change? I think it will now require TWO bottles of firewater to be passed over the desk along with the application form to the bloke in the stained white tropical suit under the squeaking fan in the rickety shack. And maybe a grainy photocopy of (someone's) ID.

 

[Smithyy]

What will change? I think it will now require TWO bottles of firewater to be passed over the desk along with the application form to the bloke in the stained white tropical suit under the squeaking fan in the rickety shack. And maybe a grainy photocopy of (someone's) ID.

It sounds like you're worrying Curacao doesn't have the ability to deal with the new changes even if they are brought in?

Perhaps I can ease your worries:

Curacao is really not capable of setting up a supervisory body that can handle this enormous job, even a large country will not be able to gather so many compliance officers to handle a workload of this magnitude. This is also exactly the reason why the then legislative lawyers were not in favor of passing on permits, it was already clear at that time that the span of control was uncontrollably wide and that the risk of responsibility being passed on was very great.

When asked about this, the Gaming Control Board stated during an information session that it will outsource compliance work, which will of course be a source of corruption.

So please, don't worry, everything is going as planned

Source:

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