It's official, again. The U.S. is still non-compliant on a World Trade Organization ruling from 2005 regarding offshore gambling, the WTO said today.
The Caribbean nation of Antigua and Barbuda - the smallest government ever to file a WTO complaint - originally made the challenge over two years ago, claiming the U.S. had pledged to open the gambling industry to competition 10 years earlier and hadn't.
Additionally, Antigua claimed, the Unlawful Internet Gambling Enforcement Act (UIGEA) passed in October, which banned payment processors from transferring money to offshore gambling companies, was also unfair and against WTO rules.
A three-member WTO panel agreed, rejecting the U.S's appeal of the original decision and adding the UIGEA was also illegal until it is applied to remote horse-race betting operators as well.
Antiguan Finance Minister Errol Cort was nothing if not pleased by the decision.
"It vindicates all that we have been saying for years about the discriminatory trade practices of the United States in this area," Cort said in a release to the media.
"And we look forward to the United States opening its markets."
The U.S., meanwhile, agreed the ruling finds it failed to comply with the WTO's decision and announced it is still mulling things over.
"We are currently reviewing our options," said Gretchen Hamel, a spokeswoman for the U.S. Trade Representative's office in Washington, in an e-mailed statement.
The markets, however responded to the news with boosts to shares in well-known offshore casino and sportsbook operators PartyGaming, Plc. and 888 Holdings Plc.
PartyGaming shares rose 3.5% to 51.75 pence on the London Stock Exchange, and shares of SportingBet rose 1.5 pence to 66.75 pence.
Additionally, Antigua claimed, the Unlawful Internet Gambling Enforcement Act (UIGEA) passed in October, which banned payment processors from transferring money to offshore gambling companies, was also unfair and against WTO rules.
A three-member WTO panel agreed, rejecting the U.S's appeal of the original decision and adding the UIGEA was also illegal until it is applied to remote horse-race betting operators as well.
Antiguan Finance Minister Errol Cort was nothing if not pleased by the decision.
"It vindicates all that we have been saying for years about the discriminatory trade practices of the United States in this area," Cort said in a release to the media.
"And we look forward to the United States opening its markets."
The U.S., meanwhile, agreed the ruling finds it failed to comply with the WTO's decision and announced it is still mulling things over.
"We are currently reviewing our options," said Gretchen Hamel, a spokeswoman for the U.S. Trade Representative's office in Washington, in an e-mailed statement.
The markets, however responded to the news with boosts to shares in well-known offshore casino and sportsbook operators PartyGaming, Plc. and 888 Holdings Plc.
PartyGaming shares rose 3.5% to 51.75 pence on the London Stock Exchange, and shares of SportingBet rose 1.5 pence to 66.75 pence.
