The U.S. now has until Dec. 14, 2007, to conclude negotiations with countries in the World Trade Organization (WTO) that are filing monetary-damage claims against it, largely in response to the ruling the WTO made in favor of Antigua and Barbuda versus the U.S. regarding Internet gambling in 2005. This is a WTO-sanctioned extension, as the previous deadline had passed on Monday.
The ruling made by the WTO said that the U.S. could not restrict the cross-border supply of Internet gambling and betting services if the U.S. allowed some Internet gambling within its borders. The U.S. still disagrees with the ruling, and instead of complying by opening up its market to online casinos, it revised the agreement that the WTO said the U.S. was violating.
Because the U.S. revised a portion of the GATS (General Agreement on Trade in Services), by WTO rule, member countries are entitled to file damage suits against the U.S. asking for compensation for any potential loss derived from the U.S.'s non-compliance with the ruling. This could be troublesome for the U.S., considering the gambling market here is valued at around $100 billion.
The U.S. has yet to come to a settlement deal with any of the countries that have filed claims, which include, among others, Antigua and Barbuda, the European Union, Macao, Japan, Australia, and Canada.
