A recent report reveals that Australia's largest pension funds have allocated over $10.4 billion to gambling industry stocks. The data comes from a SustainoMetric study commissioned by the Alliance for Gambling Reform.
Top Fund Holdings
The analysis covers the top 20 pension funds in the country, identifying investments across 198 gambling entities. AustralianSuper leads the sector with $3.43 billion in holdings, followed by Australian Retirement Trust at $1.24 billion. Colonial First State holds $1.02 billion, while UniSuper and Aware Super contribute $777 million and $658 million respectively.
Researchers note that the actual financial exposure to the gaming sector may exceed the reported figures. The study focused primarily on stock holdings and excluded bonds, private investments, and external funds. Additionally, diversified corporations where gambling represents only a portion of business operations were not fully accounted for in the total sum.
The Alliance for Gambling Reform suggests that many Australian citizens are unaware that their retirement savings support gambling companies. The findings highlight the intersection between public pension management and the gaming industry. The data was provided by iGaming News.