Advisors come down hard on betting limits Woolworths Pokies
Monday 12 November 2012 @ 12.38 p.m. | Legal Research
Activist group GetUp! pressures on Woolworths to place bet limits on its 12,000 poker machines faces a setback with proxy advisers recommending investors reject the resolutions at a meeting later this month.
The meeting will coincide with Woolworths' annual meeting in and will pit shareholders against GetUp! There will no doubt be much publicity on the debate over whether Australia's largest grocer should also be the largest operator of something as socially divisive as poker machines.
Both ISS and CGI Glass Lewis recommended that shareholders vote against the resolution
that would require Woolworths to limit bets on its poker machines to $1, and limit
the machines' operating hours.
Read more here
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