WTO set to rule on US online gambling compensation levels
The World Trade Organization (WTO) is believed to be on the verge of making its ruling on how much compensation Antigua and Barbuda will receive from the US as the debate over gambling trade draws to a close.
The small Caribbean island-nation recently won its trade dispute with the US, with the WTO ruling that the latter was discriminating against foreign gaming companies by allowing domestic companies to offer online betting but not foreign operators.
However, while Antigua and Barbuda called for $3.4 billion in compensation and also asked that the WTO suspend the intellectual property protections for software, music and movies should no agreement be reached, the final ruling on the matter was subsequently delayed.
Now, Reuters has reported that the US is about to offer the country $500,000 in compensation, though the WTO has yet to comment on the matter.
Australia, Japan, Costa Rica and the European Union members are among the nations also seeking compensation for the loss of income caused by the US decision to amend its General Agreement on Trade in Services (GATS) rather than open its market up to foreign online better companies.