It’s a Gamble

It’s a Gamble

14 August 2026

For years, I have been watching and listening to the debate about e-gaming in Curaçao. Until recently, the island was said to account for an estimated 85% of the global market, yet the government and society as a whole earned hardly anything from it. That is why a new law was introduced, accompanied by promises of enormous economic benefits.

The great river of gold from online gambling was finally supposed to start flowing into Curaçao. There was talk of revenues eventually reaching 200 million guilders. We had, in fact, already started counting our riches. The law even included percentages to be allocated to social, cultural and educational purposes.

But reality fell far short of theory.

The new minister discovered how little Curaçao was actually earning from this enormous international industry and subsequently tried to secure a larger share of the revenues for the island. Some 8.3 million guilders is paid annually to the consultant, while in the Czech Republic there is reportedly around 28 million guilders sitting in a bank account. But even these amounts illustrate just how far reality remains from the hundreds of millions Curaçao had hoped for.

Meanwhile, the island became caught up in international controversies surrounding the gambling industry, several parties suffered considerable damage, and Curaçao’s reputation was tarnished. No one seems to know exactly where all of this is heading, how much the new system will actually generate, or when those revenues will become visible.

This is becoming increasingly important because Curaçao’s fiscal space will come under growing pressure in the years ahead. From 2027 onwards, payments related to ENNIA will weigh more heavily on public finances. At the same time, attention is already shifting towards new economic opportunities, such as transshipment activities related to the development of Suriname’s oil industry and the digital economy.

And that brings us to a familiar problem. We are constantly searching for the next economic river of gold: first online gambling, then oil, the digital economy, or something else. The real challenge, however, is to sustainably translate economic activity into revenue, employment and broader societal value for Curaçao.

The idea that e-gaming would become a new economic pillar alongside tourism was a major promise. For now, it seems that the promise itself was a gamble.

And it remains to be seen whether Curaçao will win that bet.

Miguel Goede