US faces $100 Billion Fine for Web Gaming Ban

Panellists at a trade forum criticised the US government for going back on commitments made to the World Trade Organisation (WTO) in regards to internet gaming. The forum believes that the US could be liable for up to $100 billion in trade concessions to European industries after placing illegal discriminatory trade restrictions on European gaming operators.

Earlier this year, the WTO ruled that the US violated its treaty obligations by excluding online Antiguan gaming operators, while allowing domestic operators to offer various forms of online gaming. The Bush administration decided to withdraw the gambling industry from its free trade commitments and now all 151 WTO members are considering seeking compensation, equal to the size of the entire US land-based and online gaming market, estimated at nearly $100 billion. The European Union, along with India and five other countries, has filed notice that it intends to seek compensation.

News source: vnunet

Report a problem with article
Next Article

Intel Preps Dual-Core Celeron Microprocessors

Previous Article

Nintendo Wii Firmware Update Supports USB Keyboards

27 Comments - Add comment

Advertisement