The nation of Antigua is understandably chagrined that the United States government has not come into compliance with the World Trade Organization’s ruling on its Internet gaming case. I’m not a lawyer, so I can’t break all this down. But here’s the press release from Antigua’s PR firm:

The deadline passed today for the US to comply with a WTO ruling in favour of the Antiguan Online Gambling industry
as imposed by the World Trade Organisation in April 2005. As a result, nAntigua may now impose trade sanctions against the US in conjunction with the WTO agreements. Interestingly, while the US has ignored compliance issues in the Antigua WTO case, the US Trade Representative Rob Portman last week warned China of the consequences of non-compliance in a similar WTO trade dispute.

The World Trade Organisation imposed the deadline for the US after an April 2005 ruling in favour of Antigua regarding US anti-gambling laws and calling for compliance by the United States with that ruling by the close of
business today.

Under the rules of the multi-lateral dispute resolution system of the WTO-invoked by the United States as recently as last week against China-a country found to be acting inconsistently with its trade obligations is given a reasonable period of time to bring its laws or trade practices into conformity with the WTO ruling.

Although the WTO is a voluntary organisation, most members found to be in violation of their treaty obligations work hard in good faith towards timely compliance. In cases where prompt compliance has proven difficult, members usually engage with the prevailing party in the dispute with a view towards developing a mutually acceptable compromise.

“Unfortunately, the United States in this case has neither complied with the WTO decision nor worked with Antigua in good faith to find a reasonable solution,” said Dr. L. Errol Cort, Antigua and Barbuda’s Minister of Finance and the Economy. “Ironically,” noted Minister Cort, “I can find no better words in response to the United States inactivity than to paraphrase those of United States Trade Representative Rob Portman made in relation to China last week-’As a mature trading partner, the United States should be held accountable for its actions and be required to live up to its responsibilities.’”

Antigua and Barbuda trade officials noted that the passing of the deadline without any attempt at compliance by the United States was “greatly disappointing” to their twin-island State. They also added that, like many developing countries, Antigua and Barbuda was encouraged to sign up to the WTO agreements as a way to achieving some diversity and prosperity for the 70,000 citizens out of the limited resources available to the tiny country. “While we realised the decision was going to present the Americans with some difficulties, we are surprised and disappointed by the apparently cavalier attitude of the USTR toward this very important issue to our country,” said Dr. John W. Ashe, Antigua and Barbuda’s Ambassador to the WTO.

Mark Mendel, the legal counsel in the dispute, announced that Antigua and Barbuda would pursue remedies against the United States under WTO rules that allow the beneficiary of a WTO dispute to impose trade sanctions against a non-compliant member. “We have already started the process,” said Mr. Mendel, “and barring immediate movement by the USTR on the issue, we will be making a filing with the WTO for suspension of certain trading concessions before the end of the month.” Mendel further observed that trade sanctions are not intended to be a substitute for compliance, and that the United States is still expected to bring its laws into compliance with the WTO rulings. “This is too important of an issue for Antigua and for the sanctity of the multi-lateral trade system of the WTO to let pass,” said Mendel. “Our efforts to bring the United States into compliance will continue unabated.”

That’s their side–I wonder if the US will respond?

For years, Aztar was something of a dark horse among casino companies. While the companies that have become MGM MIRAGE and Harrah’s got most of the headlines (with justification), Aztar quietly kept the Tropicana on the Strip open, continually expanded the one in Atlantic City, and owned three other casinos that rarely get into the news. But since the announcement that it would be acquired by Pinnacle, Aztar is suddenly the hottest thing in casino news: no less than three suitors have emerged, and others might not be far off. From Reuters:

Ameristar Casinos Inc. on Monday offered to buy casino owner Aztar Corp. for $1.5 billion, topping offers by Colony Capital LLC and Pinnacle Entertainment Inc.

The acquisition would give Ameristar casinos in the key gambling centers of Las Vegas, Nevada and Atlantic City, New Jersey.

Ameristar offered to pay $42 per share for Aztar and assume roughly $700 million of Aztar debt, making the bid worth about $2.25 billion.

Aztar shares were up $2.46, or 5.9 percent, to $44.45 in midday New York Stock Exchange trading, surpassing the Ameristar offer price.

The Ameristar bid was only a 1 cent premium to Aztar’s Friday closing price of $41.99. Aztar’s stock has risen more than 19 percent since March 13, when Pinnacle first bid on the company.
…
Real estate firm Colony Capital LLC has offered to buy Aztar for $41 a share, a source familiar with the situation said last week. Colony already owns Hilton-branded casinos in Las Vegas and Atlantic City, as well as other properties.

It would be the latest in a string of major acquisitions by Colony, a private equity fund that earlier this year joined Saudi billionaire Prince Alwaleed bin Talal in buying Canada’s Fairmont Hotels and Resorts Inc. (FHR.TO: Quote, Profile, Research).

Colony Capital’s reported bid for Aztar eclipsed an offer of $38 per share made by Pinnacle Entertainment.

Pinnacle is based in Las Vegas, but has no casinos there. Its properties are based elsewhere in Nevada, as well as in Indiana, Louisiana and Argentina.

Pinnacle Chief Executive Dan Lee has said he envisions redeveloping Aztar’s Las Vegas Strip property at a cost of $2 billion to $3 billion.

Representatives from Pinnacle were not immediately available for comment. Colony and Aztar declined to comment.
Stock Market News and Investment Information | Reuters.com

Whoever gets the company, it’s clear that the Tropicana LV’s days are numbered.