European Commission Goes to Washington

20.02.2009, European Internet gambling companies lost billions of Euros in market value after the former U.S. government rammed through anti-online gambling legislation days before the end of the Bush administration.

Reuters BRUSSELS, Feb 19 2009 The World Trade Organization may see some action when the investigation launched by the European Commission comes to light.

European Internet gambling companies lost billions of Euros in market value after the former U.S. government rammed through anti-online gambling legislation days before the end of the Bush administration. The European Commission, justified by industry outcry, launched a formal investigation last March into whether the U.S. was targeting European Union online gambling operators for enforcement actions while allowing domestic companies to operate without penalty.European companies, such as PartyGaming and 888.com., which are traded on the open market, were forced to withdraw from the United States after the Unlawful Internet Gambling Enforcement Act was passed.

The European Commission which oversees trade policy for the 27 nations in the European Union said it would try to hammer out a solution with the new U.S. government before going to the World Trade Organization. The report, due out next month will support the position of the European Commission, which intends to take its findings to Washington in the hope the U.S.A will start talks.

The World Trade Organization is trying to avoid any protectionist moves at this time, so it may take quite a while before for any resolution is found. Everyone who is hoping for some compensation for the losses incurred during the U.S. prohibition may have to wait a little longer.

Über iGaming News:

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