WTO Antigua Ruling Verses US: Online Gambling Bill Illegal
The World Trade Organization (WTO) released its ruling in regard to the United States government's "ban on online gambling" and determined it is illegal.

SEE RULING IN ITS ENTIRETY HERE

Today's ruling ``offers hope to the global online gambling industry currently under siege by the U.S. Department of Justice,'' Antiguan Finance Minister Errol Cort said in an e- mailed statement to Bloomberg News. ``It vindicates all that we have been saying for years about the discriminatory trade practices of the United States.''

The U.S. agreed that today's ruling finds it failed to comply with the two-year old decision.

Still, the U.S. says the report allows it to maintain a ban on Internet gambling to ``protect public order and public morals'' as long as it doesn't discriminate against foreign companies, Gretchen Hamel, a spokeswoman for the U.S. Trade Representative's office in Washington, said in an e-mailed statement. ``We are currently reviewing our options,'' Hamel said.

That argument will not bode well for those who question a carve out niche for horse betting and the fact that Las Vegas continues to prosper.

The Red Herring was expected to release a statement from Congressman Barney Frank later today. He is looking to repeal the online gambling ban as early as this coming month.

The U.S. has argued that the prohibitions pre-dating the October law apply to both foreign and American betting services, and the WTO's decision only applies to gambling on horseracing, which is allowed to discriminate against foreign companies.

The U.S. adds that its latest law isn't covered by the WTO ruling and said that its 1995 commitment to open gambling to foreign companies was an oversight by the Clinton administration.

Drop in Income

Income for the 32 registered online casinos in Antigua and Barbuda has fallen to $130 million a year from $1 billion in 2000, the Antiguan government says. The country developed online gambling to boost a tourism-dependent economy after several hurricanes in the 1990s.

Antigua successfully argued in its complaint that the U.S. protects a domestic gambling industry while failing to live up to its international commitments.

Charlie McCreevy, commissioner for the European Union's internal market, labeled the U.S. law ``a protectionist measure'' on Jan. 30, saying the EU should complain to the U.S. after Congress passed the legislation barring credit card companies from processing payments. President George W. Bush signed the measure into law on Oct. 13.

`Smashing Success'

At the time, U.K. Culture Secretary Tessa Jowell compared the U.S. law to the American alcohol ban of the 1920s, saying the measure may force online gambling underground into an unregulated black market.

``This is a smashing success for Antigua in every possible way,'' John Ashe, the Caribbean island nation's ambassador to the WTO in Geneva, said in a statement. The ruling clears up ``any lingering doubt that Antigua has obtained a clear and convincing win over the United States and it is now time for the United States to meet its international trade obligations.''

Antigua may seek sanctions in the form of withdrawing intellectual property protection for U.S. trademarks or copyright. Known as ``cross-retaliation,'' such sanctions are legal at the WTO when an economy can't afford to impose sanctions in the form of higher customs duties on goods.

----

Gambling911.com News Wire, Bloomberg

Originally published March 30, 2007 11:27 am ET

WHERE'S CYNIC???????????????????????????????????????

Never mind Cynic, he's alive and well. We were all concerned about you, maestro, you seemed to have disappeared. Good to see you back astride your hobby-horse ;-)

MM..gone back to advfn basically because of monitor glitches on here..cost me a grand..

The Times

March 31, 2007

US offshore internet gambling rules 'illegal'Rhys Blakely

Elements of the crackdown on offshore internet gambling companies by the United States was ruled to be illegal by the World Trade Organisation yesterday, rekindling hopes that the industry could yet regain access to what was once its most valuable market.

A three-member WTO compliance panel sided with Antigua and Barbuda, which has waged a four-year campaign against US gambling laws.

The organisation said that Washington was wrong not to change legislation judged to unfairly target offshore casinos.

Under the WTO ruling, Washington can only maintain its restrictions on online gambling if the same laws are applied to domestic operators that offer remote betting on horse racing.

Errol Cort, the Antiguan Finance Minister, said that the ruling vindicates all that we have been saying for years about the discriminatory trade practices of the United States in this area, and we look forward to the United States opening its markets.

A US spokesman admitted that the finding was a setback, but said that the country still felt that it was allowed to block internet gambling on moral grounds.

Shares in London-listed gaming stocks gained ground on the news, with Leisure & Gaming closing up 11 per cent at 19.75p, PartyGaming up 4.5 per cent at 52.25p and 888 Holdings up 3 per cent to 124.75p.

Washington can appeal against the latest finding.

A final ruling upholding Antiguas claims would allow the island nation to seek trade sanctions against the US.

To avoid sanctions, America would have to either permit its citizens to gamble on foreign sites or scrap the exceptions that it extends for off-track betting on horses, including bets made over the internet.

These are permitted under the 1978 Interstate Horseracing Act.

However, analysts have said that it appears unlikely that the US will open up to offshore online gaming companies.

It is also doubtful what muscle a nation such as Antigua, the smallest to win a trade case in the WTOs 12-year history, would be able to exert over the worlds largest economy.

American politicians shocked the markets last year when they passed a Bill that made it illegal for banks and credit card companies to process payments linked to online gambling.

President Bush signed it into law on October 14.

The move effectively closed off the most lucrative region for the 6 billion online gambling industry, much of it is based in tax havens such as Gibraltar.

Several London-listed gaming groups subsequently shut down or sold for nominal sums their US-facing operations.




crosswire - 31 Mar'07 - 06:58 - 14200 of 14204


FT


WTO renews pressure on US online gaming ban
By Alan Beattie in London

Published: March 31 2007 03:00 | Last updated: March 31 2007 03:00

The US could be forced once again to rewrite online gambling laws after a World Trade Organisation ruling that it had failed to comply with an earlier decision.

In a case brought by the tiny Caribbean nation of Antigua and Barbuda, a WTO arbitration panel said yesterday that the US was defying a WTO ruling made in 2005.

The panel said that a new US law enacted in October last year did not resolve the problem that its legislation, implemented by selective prosecutions by the Department of Justice, unfairly discriminated against foreign online gambling companies.

The panel noted that the US had preserved an ambiguity that appeared to permit US companies to run horse-race gambling across state borders while prosecuting both Antigua-based gambling operators and US-based operators that employed the services of foreign gambling businesses. "Since the original [WTO] proceeding, the United States had an opportunity to remove the ambiguity and thereby comply with the recommendations and rulings," the panel said. "Instead . . . the United States enacted legislation that confirmed that the ambiguity at the heart of this dispute remains."

Errol Court, Antigua's minister of finance, said he was delighted by the ruling. "It vindicates all that we have been saying for years about the discriminatory trade practices of the United States in this area," Mr Court said.

The US trade representative's office maintained that all online gambling was illegal. "The USTR understands that all remote inter-state wagering is illegal under federal gambling laws," Gretchen Hamel, a spokesperson, said.

Stock prices of online gambling companies, including PartyGaming, headquartered in Gibraltar, jumped sharply after the decision.

The US could appeal against the ruling but Mark Mendel, Antigua's lead attorney in the case, said it would be highly unlikely to succeed. The WTO can authorise reciprocal trade sanctions against the US. While such action by Antigua and Barbuda would have almost no effect - it has a population of 83,000 and an economy 0.007 per cent the size of the US's -- the US has a relatively good record of compliance with WTO panel decisions.

The case has aroused strong passions in the US because of objections to gambling from some political conservatives. The WTO panel said the US was permitted to outlaw internet gambling to preserve "public morals", the first time that provision in the WTO agreement has been invoked, but had to apply such laws uniformly.

The panel also criticised the US for commenting publicly in January on an interim version of yesterday's report, which had been circulated under strict rules of confidentiality.

Copyright The Financial Times Limited 2007


crosswire - 31 Mar'07 - 07:01 - 14201 of 14204


The Guardian 31/03/2007

PartyGaming added 1.75p to 51.75p after touching 58p. The World Trade Organisation yesterday ruled in favour of Antigua in its complaint against the US over America's clampdown on online gambling. The US could decide to appeal but analysts believe the judgment can only be good news for PartyGaming and other online gambling groups

crosswire - 31 Mar'07 - 07:07 - 14202 of 14204


http://www.casinogamblingweb.com/gambling-news/gambling-law/internet_gambling_law_to_be_challenged_in_april_by_barney_frank_43794.html


Internet Gambling Law to be Challenged in April by Barney Frank

When asked in an interview about when he would challenge the Unlawful Internet Gambling Enforcement Act, Barney Frank replied with half of a poem by Henry Wadsworth Longfellow. The interviewer, one Wendeen H. Elios, was confused at first, then cleverly figured out the clue that the wordy Congressman was giving. 'On the 18th of April', says the poem, and that is when Barney Frank says he will be introducing his bill, the 'Frank bill', to Congress.

Frank explained that all the legislators would be in Congress in the middle of April and that is why he is waiting until then to bring up the bill. Frank's deliberate approach is a positive sign for the desperate Internet gambling industry which shows that Congressman Frank means business about going after the UIGEA, a law he called the stupidest in American history.

Frank will not be taking the angle against the UIGEA that says the bill was passed deceitfully, or that no one had a chance to amend the bill, or vote on that specific portion of the Safe Port Act. Instead, Frank is going after the UIGEA by saying it takes away the rights of basic American freedom.

He told Ms. Elios in her interview with him, which she was doing as a part for her book, 'Power Poker Dame', that he will file his bill later this month and that until that time he will be doing extensive homework about the issue.

Also explained by Frank in the interview is that he will be taking the PPA's poker carve-out idea and implementing it as a small portion of his bill. Frank's bill will also take the leading role in the three forces against the UIGEA - it will include the poker carve-out idea, and it will come before the study that was proposed by Shelley Berkley from Arizona. Berkley, newly appointed Poker Player Alliance Chairman Senator Al D'Amato, and Congressman Frank will be working together to fight the UIGEA.

Sen. Berkley said she was extremely excited to have Barney Frank on board and leading the way as he has much power as the Chairman of the House Financial Services Committee.

Elios says the PPA poker carve-out is all but dead, and the bill Frank will introduce will be tightly constructed in order to stay within his committee, something Berkley says is important for the bill to pass.

Frank also said that he will be seeking guidance of friend and former Senator Tom Downey from New York for help with the bill.

The in depth interview provided a great deal of detail into the thoughtful and well learned mind of Congressman Barney Frank and one thing is for sure, the Internet gambling community has gained the best friend they ever could have asked for.



crosswire - 31 Mar'07 - 07:09 - 14203 of 14204


Based on all the news, looks like a positive week next week!

Greetings all.

Certainly all sounds very promising.

But hasn't all the action already happened ............... the sp went bonkers for ten minutes on Friday afternoon.

I'm wondering if its too late to climb on board?

If you already have some ......... Well Done!

Be lucky
Amar

get into LNG...party hasn't started yet

Greetings maestro.

Why your preference on lng over prty?

Cheers
Amar

amardev...basically LNG got hit hardest out of all the gaming stocks ... once 150pish then finally collapsed to 3p at one point last autumn so 20p is an absolute steal now that they have established themselves in Italy..they are looking to expand in other countries and there is a possibility that now we have the WTO ruling that they could get back into America with vip.com again...Party may double or treble in time but the likes of LNG and SBT could easily be 5 baggers

Couldn't you have stayed over at ADVFN, maestro? ;-0

Greetings All

No postings on this thread for a little while.

Any take on the nice rise today.

All comments welcome.

Cheers
Amar

I sold 30,000 prty yesterday at .5726p. Today sold 33,452 sbt at .5825p. I am not holding prty now but I still hold 67,000 sbt. I nearly bought the 30,000 prty back today at .56p this morning but did not. It would habe been a good move. Never mind, there is always another deal around the corner. Shame about ladbrook withdrawing their interest from 888, I am holding 10,000 of these and have done since 0ctober. They will go up again when the results come out. Good luck to all holding these shares. There is always another day. the market has been dow today, so you will probably find the gaming shares will rise in the morning. any comments on this will always be appreciated.

Good to hear fro you Janet.

Well done on the trading front.

I don't hold any gaming shares at the moment ........... Feel a right prat now, having sold party @ 51.5p

Am very tempted to buy sbt in the morning. My interpretation on the chart is that momentum is moving upwards.

Cheers
Amar

sbt seems cheap at the moment. news on the consolidation of this company has dried up, but new can come at any time. I will buy back into prty at .55p say 30,000 shares. good luck today. Armdev what companys do you hold at present? goo looks like it is on the move again. Zoo could be worth a look at. They have had good results.

do not feel a prat for selling prty at .51p. A profit is a profit at any time. When you buy some more share then this will be a completely new deal.

Cheers Janet.

Looks like it's on the move .......... but I haven't bought yet.

Amar

Hi all.

Bought into Sbt a little earlier ................ I like the look of the chart.

What you say?

Cheers
Amar

I feel comfortable with my sbt stock. I will buy party today if they fall to .55 - .56

Good to have your feedback.

I'd be inclined to let party price touch the 20 dma (54p).

ps. How do you manage to find time to keep an eye on the shares ...... or do you leave limit orders.

Cheers
Amar

Party 59p @ 2pm then 54p @ 3pm ?????????????

Got the jitters and slid out of sbt, thankfully, with a small profit.

Cheers
Amar

sold 33452 sbt at .618p this was half of my holdings, I them decided to buy 30,000 prty at .55p. Ten mins later they started to fall so I bought another 14,586 at .54.25p. my average price with costs are .548p. so since I boght them they have dropped 1,672 on me. this is the stock market for you. I would have been happy yesterday to have bought yesterday at .56p. but they did not drop to that level, If I had bought at .56p I most definately would have sold today at .60p. So can anyone tell me the news that has affected prty so badly today. I am still breathing at richard would say ie cynic. take care all.

Ouch!

Maybe the marketmakers are making mugs of us all ............. knowing that many of us are looking to trade in / out.

Any whiff of negative / lack of news and they mark the sp down. It is exhausting trying to second guess the market.

Let's see what tomorrow brings.

Cheers
Amar