The Curaçao Gaming Control Board (GCB) intends to cancel the license of Small Dance B.V. This company operates BG.GAME, an online sports betting, casino, and crypto trading platform. According to a document seen by Josimar, BG.GAME sponsors Leicester City FC and collaborates with the Argentinian football federation (AFA).
The Joint Court of Justice of Aruba, Curaçao, Sint Maarten, and the BES Islands declared Small House B.V. bankrupt. The declaration occurred on November 12. It has failed to pay back over 2 million dollars owed to a group of five gamblers. Small House B.V. had taken over BC.GAME from other company, BlockDance B.B., on April 30 of this year. The court also declared Blockdance B.V. bankrupt.
The Curaçao authority intends to revoke BC.GAME’s license. This is a logical step in one sense. The bankruptcy order served on Small House raised concerns. These concerns were about their ability to operate the platform within the restrictions of their license. How would they pay their customers’ winnings if they were really bankrupt?
On the contrary, people rarely removed licensees from the register under Curaçao’s former licensing regime. This occurred despite receiving hundreds of complaints from the public over the years. Instead, many regarded the system as loose and criticized it heavily, both at home and abroad. The Netherlands, in particular, was a strong critic, as Curaçao maintains an autonomous relationship with it. The new system, the National Ordinance for Games of Chance (LOK), is slowly replacing the old one. However, it has proved just as controversial. It might explain why the GCB is intent to show it is not as toothless as some have said.
As Curaçao Finance Minister Javier Silvania addressed the parliament of his country, he said, “[Curaçao has] often portrayed itself as a hub for criminal activities and money laundering, contributing to a negative image. However, the LOK will change this perception by promoting transparency, accountability, and compliance with international standards in these critical areas, which will enhance our reputation.”
