Tabcorp’s David Attenborough has welcomed the proposed tough new stance on betting advertising, saying the crackdown is a result of the wagering industry being unable to regulate themselves adequately.
According to the Australian Financial Review, the CEO said the TV ad bans proposed by crossbench federal MP Andrew Wilkie and Senator Nick Xenophon had a good chance of being introduced.
“We have said consistently there is too much gambling advertising,” he told AFR. “We haven’t done as much advertising, mainly because we pay more tax than the corporate bookmakers. They have been able to put that saving into into their advertising, whereas we don’t have that money to spend because we pay all those taxes.”
Attenborough said the current volume of advertising was hurting the reputation of the wagering industry.
Informal discussions have already been made about how to cope with the potential ban, which has been labeled as “draconian” by Seven West Media CEO Tim Worner, according to AFR.
Senator Xenophon has reportedly flagged a compensatory scheme design to lessen the financial impact on sport and television at least in the short term.