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U.S. and EU Reach Deal on Online Gambling Compensation
The United States recently reached a deal with the European Union on trade concessions to compensate the EU in light of the decision of the World Trade Organization that the U.S. ban on online gambling is illegal. The U.S. ban on online gambling, which is said to have eliminated half of the market for the $15.5 billion online gambling industry, was found by the WTO to be discriminatory against EU and other foreign companies. As compensation for failure to lift the ban, the United States will provide the EU with trade concessions in mail services and warehousing, as well as new U.S. market opportunities for European providers of research and development in the natural sciences, social sciences and humanities, and companies offering technical testing and analysis services. Antigua and Barbuda have also requested sanctions against the U.S. for failure to comply with the WTO ruling to lift the ban on online gambling. It is believed that the U.S. and Canada are also close to a deal.
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http://www.businessweek.com/ap/financialnews/D8TJ7DB81.htm