Tabcorp commits to ending primetime advertising
CEO and managing director of Tabcorp, Adam Rytenskild, called for gambling advertising to be stopped on free-to-air television between 6.30 am and 8.30 pm.
Press release.- Anti-money laundering and responsible gambling were the focus for the second day of Regulating the Game Australia’s leading gambling law and regulation conference in Sydney and today was all about leadership, integrity and ethics.
Regulatory and industry leaders and specialist practitioners in areas of financial crime and safer gambling came together for a series of presentations and panel discussions to examine the issues facing the industry.
Adam Rytenskild, chief executive officer and managing director of Tabcorp, delivered the second keynote talk of the conference declaring there was a line in the sand moment for gambling advertising in Australia and that community won’t tolerate the direction wagering advertising was going in.
“We believe there is too much gambling advertising, and that people should be able to watch live sport without being inundated by gambling advertising,” said Mr Rytenskild.
Rytenskild went on to call for gambling advertising to be stopped on free-to-air television between 6.30 am and 8.30 pm as a sensible measure to reduce the impact of gambling harm.
Tabcorp will voluntarily stop advertising at these times even if it is not recommended by the Federal Government’s Inquiry into online gambling and its impacts on those experiencing gambling harm.
Tabcorp is Australia’s largest multi-channel wagering operator and an ASX200 company.
Tahli Blicblau, director of strategic intelligence and capabilities at the NSW Crime Commission presented yesterday on her experience in leading the multidisciplinary team that delivered the NSW Crime Commission’s report into money laundering through electronic gaming machines in NSW.
Blicblau stated that prior to the NSW Crime Commission’s investigation, law enforcement was not aware of the nature and extent of money laundering within NSW pubs and clubs. Blicblau went on to say that the report was a pivotal moment for the industry and that venues are now on notice and must ensure they are proactive in response to money laundering risks.
Crispin Yuen, director at Custos Advisory, a leading financial crime advisory, provided some insights into how the industry can reduce the risk of further breaches.
“Cashless gaming may reduce money laundering risks; however, we may need to consider other risks such as the use of ID packs using stolen or borrowed identities from knowing and unknowing actors. Board and senior management will require a better understanding of the financial crime threat landscape. Setting the tone from the top – demonstrating the will to do the right thing in the organisation, and setting out the organisational culture,” said Mr Yuen.
The event will now shift its sights toward innovation in regulatory practice including AI applications advancing safer gambling and disruptive technology such as cryptocurrency.
Ian Hughes from Gaming Laboratories International will discuss disruptive technologies and Amardeep Thandi, from Chainalysis will speak about policy and compliance matters when integrating cryptocurrency and gambling.
