I suppose it depends on if by sports rights you're talking code level partnerships with the NRL/AFL or broadcast sponsorships with the networks airing the games. All of the research and data still suggests that these partnerships deliver good ROI both to the bottom line and to brand, also sports audiences are still growing on a total TV basis.
I think as soon as the ink is dry on a complete ban, you'd find major corporations rushing to fill the space left vacated by gambling companies across both the code level and broadcast partnerships.
I mean that Channel 9 pays a lot to the NRL to broadcast NRL games. They then sell a lot of ads at high values during NRL games and there is a significant slant towards sports betting advertising.
I don't really watch FTA TV but I would guess that the sports betting advertising is far more prevalent during live sport broadcasts than it is during other programming.
If Channel 9 can no longer sell advertising slots to sports betting companies at high prices during big games can they fill that void with other advertisers? Will the other main companies advertising on FTA TV increase their ad spend because there is more space or will they spend the same and some of that spend gets moved up into more valuable slots?
If Channel 9 can no longer leverage the rights into generating as much advertising revenue as they previously did, does the amount they pay for the rights continue to hold up and/or keep increasing?