Angus Fisher, president of the university’s student representative council, expressed concern over the investments
The University of Sydney faces questions about its stakes in big-name gambling businesses, including Aristocrat, which leads the world in making poker machines, and Entain, a major player in global sports betting.
Documents Show University of Sydney Invested in a Few Major Gambling Firms
Papers obtained through freedom of information laws show the university-owned shares in these firms from 2021 to 2024, reported The Guardian. It is not clear if the university held shares outside this period.
Entain, the owner of brands like Ladbrokes and Neds, has been accused of breaking anti-money laundering rules. It also played a big role in sponsoring the university’s gambling research programs, including its Centre of Excellence in Gambling Research. Aristocrat, on the other hand, gave money to support the university’s gambling treatment and research clinic, as shown in the company’s 2023 sustainability report.
More documents reveal that the university invested in other gambling companies, too, such as International Game Technology, Crown Resorts, and the Star Entertainment Group. The university got rid of its investments in Crown Resorts and the Star Entertainment Group by mid-2022. This news has led to a backlash, with people worried about the ethics of these investments given how gambling affects society.
The University of Sydney Urged to Drop Gambling Investments
Angus Fisher, who heads the university’s student representative council, called the investments concerning since gambling harms often hit vulnerable groups harder. Fisher also mentioned that when the industry funds academic studies, it might create actual or perceived conflicts of interest.
Experts have shared their thoughts on the issue comparing gambling to other harmful industries like tobacco. Public health specialist Professor Samantha Thomas said she felt let down pointing out the damage gambling does to society. She said the University of Sydney had set a good example before by turning down tobacco industry support and should take the same approach with gambling.
Simon Chapman, a retired academic with a history of fighting university funding from tobacco companies, stressed the need to be open and talk about these issues. He knew universities depend on outside money but highlighted how crucial it is to stay away from links to industries that cause harm.
A university spokesperson answered the criticism. They said all money made goes back into making teaching and research better.
They also follow strict rules about where they invest, putting environmental, social, and financial duties first. The spokesperson further added that the university sticks to ethical ways of doing research and handles conflicts of interest.Although no proof exists that the university’s financial stakes have had an impact on its studies, the dispute has sparked new talks about gambling firms’ place in higher education.
