Antigua Seeks Justice For Online Gambling At The UNPublished October 26, 2015 by Vlad G
More than $100 million in compensations delayed for eleven years by the USA for Antigua and Barbuda due to trade violations.
When the online gambling industry first started, it was with the Free Trade & Processing act in Antigua and Barbuda which allowed operators to launch online casinos under a regulated environment. It then continued to grow over the years and while Antigua is now the licensing place for some of the best casinos, with 7Regal Casino, Winner Casino and Europa Casino standing out, the country has not received proper compensation for the violation made by USA.
The 2006 ban and its effects
In 2006, the United States Department of Justice passed UIGEA into law and banned banks from accepting transactions related to online gambling. This brought the industry to its knees in the USA and forced gambling operators within the country to leave the market, also largely affecting the booming industry started in Antigua and Barbuda.
Gaston Browne, the Prime Minister of the small island, is now looking to resolve the issue which has been ignored for 11 years by taking it to the United Nations. Browne expressed his thoughts at the recent UN General Assembly Debate and demanded compensation for Antigua & Barbuda from the much larger and richer country due to trade violations.
According to Browne, the island nation lost more than 100 million dollars as a result of the United Sates being found in violation of the World Trade Organization agreement. Justice has been delayed for more than 11 years, the Prime Minister continued in his speech, without any fruits of the judgment being delivered to the country.
Tax heavens in the Pacific and Caribbean
Antigua and Barbuda was named as a tax heaven by the commission and Browne argued in his UN appearance that this is not right for the reputation of the country, seeing that Antigua and Barbuda has only done its best to meet the international standards despite its limited resources.
No official response has been offered as of now.