US loses another round in WTO gambling case
Caribbean casinos get quick access to US wallets
Posted in Financial News, 22nd August 2005 14:56 GMT
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The World Trade Organisation has given short shrift to US foot dragging on opening up its gambling industry to international online competition.
The states has been given until the end of next March to bring itself into line with an earlier WTO ruling that the US should stop blocking US gamblers and banks from using services based in Antigua and Barbuda, the small Caribbean country which brought the original action. While Antigua and Barbuda had originally called for the US laws to be changed within six months of the original ruling back in April, the US had demanded 15 months.
A WTO arbitration panel has now decided 11.5 months represents a safe bet for all concerned.
Washington has been consistently frustrated in its efforts to prevent its gamblers frittering away their hard-earned cash in virtual casinos hosted in the Caribbean. The WTO has effectively decided Washington is simply protecting its own, rather powerful, gambling industry.®
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