On the 26th of March, the WTO disputes panel has ruled in favour of Antigua in its action against the world's sole superpower.

Antigua and Barbuda had earlier presented arguments to the panel to the effect that the US government in legislating against transactions between US financial institutions and Antigua and Barbuda-based Internet gaming companies, was acting in breach of its obligations under the General Agreement on Trade in Services (GATS).

The disputes panel at the WTO had indeed recommended that the USA be requested by the WTO to bring the offending revenue measures into conformity with US obligations under the GATS.

The US Government had two months in which to give notice of appeal and a further two months in which to enter its arguments and that the issue should be concluded very shortly thereafter.

At stake is the future of the internet gaming industry on the island, one of the important pillars of diversification and expansion of the country's services sector.

The US had enacted legislation to inhibit Internet gambling by making it a crime for US financial institutions to accept or facilitate credit cards payments, wire transfers or any other banking instruments in relation to gaming transactions with companies in Antigua and elsewhere.

It is estimated that the loss of earnings to Antigua and Barbuda was in excess of US$20 million after a number of Internet gaming and offshore companies ceased operations on the island as a result of the US action.

We will publish the ruling on this portal as soon as we receive it.