WILLEMSTAD – GAMRS estimates that billions of pounds in gambling revenue generated outside regulated markets are flowing through corporate structures licensed in Curaçao, raising concerns about reputational and financial risks for the island.
The report states that approximately 64 percent of the Santeda-linked network’s revenue is derived from UK consumers, despite the operators lacking authorization to operate in the UK .
Because the gambling activity occurs outside regulated markets, GAMRS notes that no gambling tax revenue is paid in the countries where consumer harm occurs, while profits are allegedly reinvested into construction and commercial developments in other jurisdictions.
The report also warns that continued association with illegal gambling networks could expose Curaçao-licensed entities to international enforcement actions, financial sanctions, and increased scrutiny from correspondent banks and payment providers.
Experts cited in the report argue that offshore jurisdictions face growing pressure to ensure their licensing frameworks are not misused by operators engaged in black-market activity.