As legislation moves forward in Congress to ban Internet gambling, one Caribbean island is concerned the proposed new law will destroy licensed online casinos operating on its shores, and deprives it from much-needed revenues.
The nation of Antigua and Barbuda is threatening to make a World Trade Organization challenge to a U.S. plan that would criminalize online betting. Internet gambling is experiencing dramatic growth, which says the market will reach $6 billion this year, and as much as, $10 billion by 2005.
Antigua, home to only 68,000 people, has more than 100 licensed online casino operators, which generate millions of dollars every year for the Antiguan government. While there are questions just how many online casinos are in operation, and precisely how much money is bet online.
Antigua, for its part, says that with the downturn in the tourism industry, the country has come to rely on revenues generated from licensing and taxing of online casinos on its territory. The online betting industry employs 3,000 people in Antigua, and officials say the U.S. would be in violation to its commitments under the WTO's commercial services agreement.
Officials from the U.S. and Antigua will meet on April 7th in Geneva in an effort to resolve the dispute. If the two sides fail to reach an agreement, then Antigua could potentially ask WTO judges to rule on the disagreement, a process that could take several years.
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