REGULATION A BETTER ONLINE OPTION THAN COMPENSATION IN U.S.A?

23 November 2007

European Union trade commissioner reports back


After his whirlwind visit to Washington last week to press claims against the United States over its withdrawal of World Trade Organisation online gambling obligations (see previous InfoPowa reports) EU Trade Commisioner Peter Mandelson was back in Brussels and reporting back to the European Parliament yesterday (Tuesday).

Mandelson said the United States should let foreign companies into its multibillion-dollar online gaming market instead of trying to compensate European firms for shutting them out.

"The U.S. has so far opted for compensation to make right what is wrong. I don't think compensation does that job," he told members of the European Parliament, reports Reuters.

Billions of Euros were wiped off the market value of European online gaming companies when the United States closed off its market late last year.

"What we really need is for the legislation to be put right and for foreign operators to stop being excluded and discriminated against in the way the present U.S. legislation does," Mandelson said.

Mandelson met U.S. Representative Barney Frank during his visit to Washington this month and said he was hopeful Frank's attempts to change the law through his proposed Internet Gambling Regulation and Enforcement Act would be successful.

"I will continue to make these arguments on behalf of the European industry," Mandelson said.

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