Online and Offshore
Gambling Industry News By:
Q.
Smyth
February
9th, 2007 - Page Updated at 11:45am
Senior Editor For WagerOnFootball.com Handicapping.
Antigua-Barbuda
to assist UK in developing gambling regulations
WagerOnFootball.com
Friday, February 9, 2007
ST
JOHN'S, Antigua: Antigua and Barbuda's
Financial Services Regulatory Commission, Division
of Gaming has announced that the country expects
to play a key role in developing international
regulations and legislation for remote gambling
following publication of the UK Government's
communique regarding the 2006 International
Summit on Remote Gambling.
The communique, released
by the UK's Department of Culture, Media and
Sport (DCMS) on Monday 29th January, highlighted
the approval by the Summit's delegates for the
proposal to set up an expert working group to
advise on the scope for developing international
minimum standards for regulating remote gambling.
Errol Cort, Antigua and
Barbuda's Minister of Finance and the Economy,
commented, "Antigua offers its unique experience
and insight wholeheartedly in developing regulatory
standards for the international remote gambling
industry as part of the expert working group
proposed by the DCMS."
Kaye McDonald, Antigua's
Director of Gaming, also highlighted Antigua's
credentials for regulation of their online gambling
industry, adding, "The regulations that
Antigua has in place for online gambling are
respected globally and have been a contributing
factor in winning the WTO ruling against the
US in 2005."
It is widely known that
regulations put in place by Antigua and Barbuda
are more stringent than those that the US imposes
on its own legal gambling industries.
The US recently admitted
suffering a new setback in the long running
trade dispute with Antigua over the provision
of offshore gambling within the United States,
having, according to the press agent for the
United States Trade Representative, been on
the losing side of a recent WTO report assessing
the status of US compliance with the original
adverse ruling from the WTO issued in 2005.
While the new report is
not officially released until mid February,
the US has already publicly stated that the
WTO panel did not agree with the United States
that they had taken the necessary steps to comply.
Courtesy
Carribean News
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