EU reach US compensation in online gambling case
The European Commission (EC) has thrashed out a compensation deal with the U.S relating to its decision to ban online gambling.
If previous figures are to be believed, the amount could be in the region of $100 billion.
The big European online gaming companies such as PartyGaming and Bwin would have preferred the U.S to reverse their Unlawful Internet Gambling Enforcement Act (UIGEA), but a compensation deal is as much as they could have hoped for at this stage.
"We continue to believe that it is better to regulate than to prohibit, because the reality shows that the prohibition only drives out the transparent, listed operators," said a spokesman for the Austrian-based gaming company Bwin.
The EC also believe that and will still continue to push the U.S for "a non-discriminatory policy towards Internet gambling".
However, if that should ever happen, it is likely to take a very long time indeed.
Editor, Jackpot.co.uk - 2007-12-17 11:10:08