Tuesday October 14,2014 : GIBRALTAR BETTING AND GAMING COMMENTS ON LOST COURT CASE
Calls for EU framework for online gambling regulation.
Possibly still smarting from its defeat in litigation against Britain's new point-of-consumption online gambling regulatory legalization the Gibraltar Betting & Gaming Association issued a statement Friday calling for a European Union regulatory framework for online gambling.
“We remain concerned the UK regulator will find it difficult to hold companies to account in jurisdictions outside of the EU where it has no legal powers and common legal framework or culture," the statement asserts.
"Given this judgment there is now even greater need for an EU legal framework for online gambling if we are to effectively protect all European consumers, enjoy a common market and avoid each Member State deciding alone how to deal with an activity that naturally crosses borders.”
Expressing disappointment at the defeat of its objections to the new British laws, the Association went on:
“Cross-border regulatory regimes require significant co-ordination and co-operation on key legal and regulatory issues and the UK already had this with the Gibraltar industry, regulator and jurisdiction.
"We maintain this [UK] law is not in the best interests of consumers, the industry and the regulator itself and that there are more effective ways of dealing with the challenges of regulation and competition in this sector.”
There was no indication in the statement on whether the Association intends to appeal the court's decision.