U.S. Says Numbers are Exaggerated

October 7, 2007

In recent news articles, the European Union and other spectators have said that it looks as though the US will have to pay out about $100 billion in compensation to the other countries that have been affected by the addition of the Unlawful Internet Gambling Enforcement Act, or UIGEA. They say that they will have to pay, but not the amounts that have been quoted.

They say that they will not reveal how much compensation they will have to pay, but that the amounts that are being put out there are “exaggerated” and “faulty.” They are also quick to point out that they would not have to pay those amounts, but rather open up other avenues to other countries to other industries in the nation.

Lawyers for the EU and their online gambling companies say that they are pushing for $100 billion in compensation because of the effect that the ban has had on the online casino industry in their countries. They say that the market value has plunged so drastically that they are worth that and more.

With Antigua having opened the door to seeking damages, other countries are simply falling into line looking for their share of the pie. The US maintains that the amounts are not what everyone thinks they are, and many speculate that they are trying to make it seem not as financially problematic as it could very well be for our country.

Initially, the US said that they didn’t even think that compensation was warranted but have been speaking with several WTO members about compensation packages, and Antigua is still going forward with their “cross retaliation” copyright protection that they have been threatening the US with.




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