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Antigua Bets on UK in Online Gambling Battle

23 Jun 2005

ANTIGUA and UK -- As reported by the (London) Financial Times: " The Caribbean island state of Antigua and Barbuda is looking at "strategic alliances" with UK companies to boost its online gambling industry, as it combats a clampdown from US authorities who consider internet betting to be illegal.

"New gambling laws in the UK were passed recently to regulate the booming internet gaming industry. Although the laws have yet to be implemented, Antigua is keen to benefit from any path the UK could clear through murky legal and trade controversies that threaten the industry.

"The island is one of several offshore tax havens used by internet gaming operators to avoid the regulatory clutches of markets such as the US and to enjoy more lenient rates of tax.

"... At the height of the industry, about 120 online gaming operators once did business in Antigua but that has fallen as low as 22 since the US crackdown..."

 
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