US Makes Compensation Offer for Online Casino Ban
Everyone was taken by surprise as the United States withdrew from its World Trade Organization obligations. The American administration did not want to change its policy regarding online casino gambling and thus decided to disregard international agreements it previously made. However, according to the Financial Times the U.S. has made an initial compensation offer to the European Union in an effort to resolve the matter. Breaking international trade agreements does not come cheap, that’s for sure. The report also indicates that European groups that operate online casino gambling are pressuring the European Union to reject the offer in question.
By placing a ban over the online casino industry, the United States basically eliminated all possibility of a foreign gambling company competing in the American gambling market. Losses were made to many of the big brands in the Industry and European groups are demanding a higher more adequate compensation. The World Trade Organization has awarded the European Union with an extension. The EU will study the U.S. offer and will make its decision by October 22. It’s important to mention that the offer made by the United States came after the World Trade Organization ruled in favor of Antigua and Barbuda, which was running a campaign against the American Government and its online gambling policy.
The United States’ offer is indeed an interesting one. It will not benefit the online casino community, but it does aim at compensation the nations for any economic damages inflicted by the ban over online casino activities in America. Opportunities in the storage, warehouse services, and technical testing sectors will be made open for European Union countries, Antigua and Barbuda, and other plaintiffs in the case. In this way, the United States is hoping to assist the economies of countries that suffered losses as a direct result of the closure of the online casino market.