Gambling Firms Miffed at U.S. Compensation Offer

Online gambling companies feel that the United States’ compensation offer as a result of the World Trade Organization’s ruling against the country is far too low and are pushing the European Union to ask for $100 billion.   

Currently, the EU is mulling over an offer from the U.S. and has been granted an extension until October 22 to make a decision.  While the offer was not made public, the Financial Times reports that, to make up for the clamps it has put on internet gaming, the U.S. is willing to open up its markets in storage, warehouse services and technical testing sectors.  Initial figures put this potential revenue below the estimated $4 billion per year that EU companies are missing out on now that U.S. gamblers have been shutout of most gaming sites. 

Antigua has also requested more time and is quite adamant that it is owed $3.4 billion per year.  The country’s economy is heavily reliant on internet gaming, as many online gambling firms are located within its borders.  Antigua has threatened to ignore U.S. intellectual property rights and patents if adequate compensation is not offered.