Caribbean Net News
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.