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Online Casino Sites Receive Antigua Licenses

Online casino gambling is still very much against the law in the United States, though the world’s approach to online gambling is more tolerating and, sometimes, encouraging. In a recent story, Antigua, an island in the Caribbean, has been spreading its licenses to many new online casino sites around the world. Although the United States has prohibited Antigua from developing its online casino industry, the Caribbean island will continue to license online casinos and help new online gambling sites begin operation. Finance Minister, Errol Cort, said that at least ten new online casino companies will open on the island next year, joining another 14 that have already received operating licenses.

These new online casino companies, according to Cort, will help in generating 500 new jobs. Additionally, more than $2 million in gambling licenses fees will also be generated by these new online casino sites. Antigua maintains that U.S. law and sanctions work contrary to those of global trade rules and therefore the two have come head to head in disagreement. The United States contends that online gambling should be forbidden because of its violation of state laws.

The World Trade Association has not issued a final ruling on the online gambling issue following a U.S. appeal, leaving the respective parties in suspense. Cort stated that the government would tightly regulate online casino sites and online gambling in order to meet ‘the most stringent internationalpractices.’ He said this during his annual budget presentation in Parliament. As a consequence, the enforcement and dispute handling by Antigua is hoped to improve in time.

OCA News Editor

Jenny McKinnley is OCAs financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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