Addressing the Shareholders
The Alliance for Gambling Reform (AGR) has launched a campaign encouraging TV network shareholders to support a complete ban on gambling advertisements in Australia. This campaign mainly targets the shareholders of Nine and Seven West Media (SWM).
According to AGR, a change might occur if 100 shareholders mobilize. AGR explains, "Raising shareholder initiatives at annual general meetings is common overseas, but in Australia, due to our corporate laws requiring proposals from 100 shareholders, this practice is rarely used."
These shareholders can push to end all gambling advertisements, not only on channels owned by the TV networks but also on other platforms, such as radio, streaming services, and newspapers.
"We have been unable to achieve gambling reform until we entered these companies"
Reverend Tim Costello, brother of former Nine chairman Peter Costello, is the chief debater of this new movement. He explains, "We can't achieve gambling reform until we enter these companies. I have bought the largest shares of these companies. If others do the same, or use their existing shares to support this movement, then we can enter these companies and push for change. Media companies are completely out of touch with reality on the issue of gambling advertisements. Seventy percent of Australians want gambling ads on TV to be banned. Australia loses $25 billion annually to gambling, the highest per capita consumption in the world."
Meanwhile, some sports betting operators, such as SportsBet and Entain, have become aware of public opinion and have voluntarily reduced the number of their advertising campaigns.
The Government's Role
On September 3, Australian Prime Minister Anthony Albanese announced that his government "has not yet concluded; we are in discussions." He added, "I see reports claiming they know our stance. In fact, they don't. What we are doing is reforming to ensure we can carry out effective reforms. We recognize that gambling is an issue, and we aim to address these issues constructively."
"My government has done more in the past two years regarding problem gambling, including establishing a registry to prevent problem gamblers, changing the rules for credit card use in gambling, and the rules and statements after advertisements. But we are still in contact with media organizations, sports organizations, and anti-gambling groups. We advocate for constructive engagement. This is the good deed of the government actively engaging and having constructive dialogues," concluded the Prime Minister.
