The University of Sydney has held shares in Aristocrat and Entain, both of which have funded its academics and specialist gambling research centres.
As per documents obtained under freedom of information (FoI) laws, the university invested in in Aristocrat, and in Entain between 2021 and early 2024. It is a possibility that the university held stakes in in the world’s biggest poker machine manufacturer and the global sports betting giant before and after this period, beyond the scope of the FoI.
Entain, which was embroiled in the legal case by Australia’s financial intelligence agency this month for alleged breaches of anti-money laundering laws, was sponsoring the university’s centre of excellence in gambling research.
Aristocrat has also funded gambling research at the university. The company’s last year’s sustainability report revealed its support for the university’s gambling treatment and research clinic.
While the value of these investments is not yet known, Aristocrat featured in a “table of largest active Australian equity positions averaged over 12 months” included in the FoI documents.
Stakes in IGT and more
In addition, the university has also held financial stake in International Game Technology (IGT), UK-based company producing poker machines and other gambling products. The University of Sydney also held investments in Crown Resorts and the Star Entertainment Group until mid-2022.
The Guardian reported that a list of the university’s investments was obtained by the university’s student representative council. The investments’ list included foreign currencies and international shares. Angus Fisher, the council’s president, described the investments as concerning because of the “broader societal impacts of gambling and industry’s funding of academic research.”
“This issue is particularly pressing as gambling-related harm disproportionally affects vulnerable communities, and the industry’s role in funding research can lead to perceived or actual conflicts of interest,” Fisher said.
“It is concerning that a university committed to advancing knowledge and social equity may be profiting from an industry that thrives on exploitation and addiction.”
In June last year, the online gambling inquiry report was released, which called on for help from the federal government to “protect public policy and research from gambling industry interference.”
A university spokesperson said it was a “not-for-profit entity and re-invests all available revenue into enhancing research and teaching capabilities”.
“We have strict rules around our investments and in recent years have reviewed our strategies to improve environmentally, socially and financially responsible investment practices,” the spokesperson said.
“It is in all universities’ interests to ensure our research is robust and ethical – our research integrity is essential to our success. We have policies in place to ensure the avoidance and appropriate management of actual, apparent or perceived conflicts of interest by university staff and affiliates.”
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