EU tackles US online gambling ban
The European Union (EU) has told the U.S. that it wants compensation for the introduction of the Unlawful Internet Gambling Enforcement Act (UIGEA), which effectively banned online gambling in the country.
The ban forced many European-based online gambling companies out of the country, closing the biggest market in the industry. It is estimated that the U.S online gambling market was worth $15.5 billion-a-year.
However, the EU is now looking for a compromise on the part of the U.S. which would make up for the lost revenues.
"We need new concessions that would be equal with the benefits lost," an EU official said.
The official also warned that it may be a long time before any developments are made as losses to European businesses must be calculated first.
Editor, Jackpot.co.uk - 2007-06-20 10:46:18