Online bingo operators and online bingo halls were hugely affected when the United States withdrew from their treaty obligations with the World Trade Organization. The European online gaming industry filed for compensation from the United States for the losses they would suffer because of their withdrawal. The losses filed were in the millions.
With the recent news that the European Union negotiators accepted a lower than expected settlement from the United States, the online bingo community as well as other European online gaming companies have taken a hit. Shares have dropped dramatically with operators such as PartyGaming taking a substantial hit due to the EU not challenging the US further.
Another online bingo operator that took a huge hit was the Bwin Company. A spokesman for them said they did not expect much from the European Union/ United States talks. However they were confident that the EU would maintain their position for a regulated United States Internet gambling market open to EU online gaming companies.
"We continue to believe that it is better to regulate than to prohibit, because the reality shows that the prohibition only drives out the transparent, listed operators," he said. "We trust the Commission will continue to push further for this. It certainly is going to be a long way still."
A European Union Spokesman released a statement on the agreement: "A bilateral agreement was signed in Geneva, which provides EU service suppliers with new trade opportunities in the US postal and courier, research and development, storage and warehouse sectors. The US also made concessions in the testing and analysis services sector."
This really does nothing for the online bingo community to compensate for their previous losses and those to come in the future in shares and other areas.


- 2007-12-19