The European Unions Trade Commissioner Peter Mandelson believes the the United States should let foreign competition into its internet gambling market.
"The U.S. has so far opted for compensation to make right what is wrong. I don't think compensation does that job," he told members of the European Parliament on Tuesday.
Billions of pounds were wiped off the market value of European internet gambling companies such as Party Gaming and 888 Holdings when the United States closed off its market last year. The entire internet gambling industry mobilized to fight the ban and pushed for a repeal of the Unlawful Internet Gambling Enforcement Act of 2006.
"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 U.S. legislation does," stated Peter Mandelson.
President George W Bush has walked away from those liberties that define us as a nation and that will be his lasting legacy. Patriots in the United States Congress are beginning to rise up against the President's assertion of absolute power. Internet gambling prohibition will not work because prohibition has never worked in the history of the United States.
Barney Frank, the Chairman of the Financial Services Committee, has called UIGEA the "stupidest law that ever passed" and has been actively working to repeal the ban. Frank met with the EU Trade Commissioner during Mandelson's recent visit to Washington this month. He was hopeful Frank's attempts to change the law would be successful.
"I will continue to make these arguments on behalf of the European industry," concluded Mandelson.
