|The Trade Commissioner for the European Union, Peter Mandelson, has stated that the United States should regulate online gambling rather than compensate those affected after returning from his trip to Washington, DC. |
Mandelson was in the US this week to press claims brought against the White House following withdrawing from its World Trade Organisation (WTO) obligations.
Back in Brussels, Mandelson reported to the European Parliament that the United States should let foreign companies into its multibillion-dollar online gaming market instead of trying to compensate European firms for shutting them out.
'The US has so far opted for compensation to make right what is wrong,” said Mandelson. “I don't think compensation does that job.”
Billions of dollars were wiped off the market value of European online gaming companies following the passage of the UIGEA that shut off the US market late last year.
'What we really need is for the legislation to be put right and for foreign operators to stop being excluded and discriminated against in the way the present US legislation does,' explained Mandelson.
While in the nation’s capital, Mandelson met with US Representative Barney Frank and said he was hopeful that Frank's attempts to change the law through his proposed Internet Gambling Regulation And Enforcement Act (IGREA) would be successful.
'I will continue to make these arguments on behalf of the European industry,' said Mandelson.