Australian Super Funds Hold $14.8bn in Gambling Investments Despite Harm Concerns
Report Finds Retirement Savings Still Flowing Into Gambling Industry
Nearly $15 billion of Australians’ retirement savings is invested in gambling-related companies, exposing what campaigners describe as a major gap in the way superannuation funds apply responsible investment policies.
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A new report from the Alliance for Gambling Reform estimates that Australia’s 20 largest super funds collectively hold $14.8 billion in gambling stocks. The findings arrive as the country continues to record the highest gambling losses per person in the world, with Australians losing an estimated $32 billion every year.
The biggest exposure belongs to AustralianSuper, which holds around $4.9 billion in gambling investments. That figure is more than twice the level of any other fund examined. Australian Retirement Trust, Colonial First State, UniSuper and Aware Super complete the list of the five largest investors.
One of the companies receiving substantial retirement fund investment is gaming manufacturer Aristocrat Leisure.
Responsible Investment Policies Leave Gambling Largely Untouched
The report argues that many super funds promote responsible investment principles while taking inconsistent approaches to gambling. Unlike industries such as tobacco and alcohol, which are commonly excluded through ethical investment screens, gambling often remains outside those restrictions.
Martin Thomas, chief executive of the Alliance for Gambling Reform, believes many Australians are unaware that compulsory retirement savings are helping finance gambling businesses. He pointed to the industry’s wider social impact, linking gambling harm to financial hardship, relationship breakdowns and mental health problems.
Rather than calling for gambling to be outlawed, the organisation wants institutional investors to reconsider whether the sector belongs in retirement portfolios. Given the enormous size of Australia’s superannuation industry, the report argues that gambling investments represent only a small share of overall assets, leaving funds with significant flexibility to shift capital elsewhere if they choose.
Thomas also encouraged members concerned about the issue to ask their super fund directly how much money is invested in gambling-related companies.
AustralianSuper confirmed that, apart from its Socially Aware investment option, it does not exclude gambling companies from its portfolios. The fund said its primary responsibility is delivering strong retirement outcomes for members while engaging with listed gambling businesses on responsible gaming and corporate governance practices.
Reform Efforts Continue as Gambling Losses Stay High
The investment debate comes alongside broader government efforts to address gambling harm.
Prime Minister Anthony Albanese has confirmed plans to introduce legislation restricting gambling advertising across television, radio and online platforms, with online advertising intended to be limited to verified adult users.
This year’s federal budget also allocated additional funding to support people affected by gambling. The government committed $39 million over four years to expand financial counselling services, $28.7 million to strengthen the BetStop national self-exclusion register, including improvements to data-matching systems, and $22.4 million for a nationwide awareness campaign encouraging people experiencing gambling harm to seek help.
The Alliance for Gambling Reform argues that those measures address the consequences of gambling, but the investment practices of Australia’s largest retirement funds remain largely overlooked. For millions of Australians contributing compulsory superannuation each payday, that means part of their retirement savings may still be backing an industry many never expected to support.
Source: www.sbs.com.au
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