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.

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Gambling911.com News Wire, Bloomberg

Originally published March 30, 2007 11:27 am ET

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