The gaming industry in Curaçao is under the spotlight again. This time, it’s not just the gaming companies in question but key figures behind regulatory reform, including former Malta Gaming Authority (MGA) chair Mario Galea. A damning 400-page report submitted by financial forensic investigator Luigi Faneyte accuses Galea and others of fraud, embezzlement, and creating a corrupt licensing system.
As Galea vehemently denies the allegations, the implications stretch beyond personal culpability. This unfolding drama raises urgent questions about the integrity of Curaçao’s regulatory reforms, the role of foreign consultants, and the broader risks posed by inadequate oversight in emerging gaming jurisdictions.
The Accusations: A Web of Fraud or Political Smokescreen?
Faneyte’s report paints a startling picture of collusion and corruption. He alleges that Galea, alongside Curaçao Finance Minister Javier Silvania, PR consultant Aideen Shortt, and gaming operator Mario Fiorini, orchestrated a system to embezzle and launder millions through opaque licensing practices. Galea’s portal for license applications is central to these claims, described as monopolistic and lacking transparency.
155 provisional licenses have reportedly been issued under Galea’s oversight, with several licensees declaring bankruptcy, leaving behind millions in unpaid debts. Among them is Blockdance, a company previously investigated by FinTelegram, and Small House, raising concerns about whether Curaçao’s gaming reforms have truly improved accountability.
Read our report about the Blockdance & Small House bankrupcty here.
Galea dismisses these allegations as “baseless and unfounded,” asserting that his role was limited to providing infrastructure and that the Curaçao Gaming Control Board (GCB) ultimately manages the licensing process.
Reforms or More of the Same?
The accusations come at a critical juncture for Curaçao. Minister Silvania has spearheaded efforts to modernize the country’s gaming sector, replacing its notoriously lax framework with stricter controls. Galea and Shortt were engaged as consultants to guide this reform, a move that initially signaled a commitment to higher standards.
But Faneyte claims the reforms are a façade, arguing that private email communications and questionable decision-making processes have undermined transparency. The report alleges Galea’s claims of employing 170 personnel to vet licenses were false and that artificial intelligence was used instead—a claim Galea refutes.
The GCB also rejected accusations of corruption, fraud, and financial mismanagement in the issuing of gambling licenses, raised by the report of “local politician Luigi Faneyte“, of the opposition Real Alternative Party (RAP).
These allegations raise critical questions: Are these reforms merely an elaborate cover for entrenched corruption? Or are they genuine efforts to improve an industry mired in controversy?
The Political Undertones
Luigi Faneyte (LinkedIn), a member of Curaçao’s opposition PAR party, has his own motivations questioned. Silvania and Galea argue that these allegations are politically driven, designed to discredit the government ahead of Curaçao’s March 2025 general elections.
Yet, regardless of political motivations, the claims have added urgency to the global conversation about governance in offshore gaming hubs. Malta’s own gaming industry has faced scandals, including the collapse of Blockdance and Small House, highlighting systemic vulnerabilities in jurisdictions that act as gaming havens.
Implications for Compliance and Oversight
This case is not just about Curaçao; it reflects broader challenges in gaming compliance worldwide. The overlap of politics, business, and regulation raises red flags for jurisdictions relying on gaming revenues. Without rigorous checks, these systems risk becoming vehicles for financial crime and corruption.
As the lawsuit unfolds, the industry and regulators alike must confront uncomfortable truths. Are gaming reforms truly about transparency and accountability, or are they mere window dressing for deeply embedded issues? The answers may well shape the future of gaming regulation in Curaçao and beyond.
Call for Information:
If you have insights into Curaçao’s gaming reforms or the role of international consultants, contact FinTelegram confidentially.