Former Paddy Power chair: Gambling industry “cannot be trusted”
Fintan Drury calls on investors to recognise gambling-related harm and implores footballers to take stand against advertising
Former Paddy Power chairman Fintan Drury has said the gambling industry “cannot be trusted” and institutional investors must be hit to deal with gambling-related harm.
Speaking at the Gambling Reform Rally organised by the Gambling Related Harm APPG in Westminster yesterday, Drury gave an impassioned monologue on the importance of bringing change to the industry.
Drury said: “The industry cannot be trusted. The industry is in the business of making profits for those who own the industry. The industry, like most large industries, is owned by people who are not involved in the day-to-day in the way in which the business is run.
“There is a flank, that I believe needs to be targeted in all the efforts that are underway. The flank is those that own these companies.
“People have talked about the industry, and they are talking about management. Every single company in the world, the chief executive and the board are responsible to those who own the company.
“There are institutional investors who know what is happening within the industry that they are invested in. The argument needs to be taken to them as well. That is going to be very important,” he added.
Drury also touched on the relationship between gambling and football, calling on sports stars to take a leaf out of Marcus Rashford’s book when he made a stand against the government over free school meals.
Sports sponsorships are reported to be targeted in the upcoming white paper on the Gambling Act 2005 review, which could see gambling companies barred from advertising on player’s shirts and in stadiums.
Drury said: “The way in which the industry has been allowed to influence football is far too powerful. We need to see young footballers emerging who are saying, ‘I won’t wear that shirt. I’m not prepared to support that industry unless it changes’.”
Drury set up a lobbying group called Stop Gambling Harm Now along with Paddy Power co-founder Stewart Kenny and Ian Armitage, the director of Mercury Asset Management, one of the first financial backers of the Irish bookmaker.
The group aims to lobby legislators, as well as target investors, to bring about change in the industry.