{"id":5264,"date":"2022-11-16T19:06:18","date_gmt":"2022-11-16T19:06:18","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=5264"},"modified":"2022-11-16T19:06:18","modified_gmt":"2022-11-16T19:06:18","slug":"australias-largest-super-funds-have-invested-billions-in-gambling-firms","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/australias-largest-super-funds-have-invested-billions-in-gambling-firms\/","title":{"rendered":"Australia\u2019s Largest Super Funds Have Invested Billions in Gambling Firms"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/news\/wp-content\/uploads\/2022\/11\/superannuation-funds-in-australia.jpg\" alt=\"Superannuation Funds in Australia\" title=\"Australia\u2019s Largest Super Funds Have Invested Billions in Gambling Firms\" width=\"300\" class=\"alignright size-full wp-image-5265\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>The top 10 super funds in Australia all hold billions worth of gambling stocks<\/li>\n<li>AustralianSuper invested in Aristocrat through its Socially Aware option<\/li>\n<li>Australia is fighting gambling addiction as Aussies are considered the world\u2019s biggest gambling losers<\/li>\n<\/ul>\n<p>The biggest superannuation funds in Australia are investing massive sums in the gambling industry. <\/p>\n<p>According to <a href=\"https:\/\/www.theguardian.com\/australia-news\/2022\/nov\/15\/socially-aware-superannuation-funds-among-those-investing-billions-in-gambling-industry\">a report by Guardian Australia<\/a>, as of June 30, 2022, Australian super funds have put $4.2 billion of employees\u2019 retirement savings into businesses involved in the gambling sector, such as casino and lottery operators, as well as pokies manufacturers. Some of those investments come from the super funds\u2019 \u201c<em>Socially Aware<\/em>\u201d option, according to the report. <\/p>\n<h2>10 Biggest Australian Super Funds All Invest in Gambling<\/h2>\n<p>Among those investing in the gambling industry is <strong>AustralianSuper<\/strong>, the country\u2019s largest superannuation fund. It holds huge stocks in two of the biggest companies in the gambling machine market, Endeavour Group and Aristocrat Leisure Ltd. <\/p>\n<p><strong>Endeavour Group<\/strong> is the <a href=\"https:\/\/www.top10casinowebsites.net\/slots\">biggest pokies\/slot machine<\/a> operator in Australia, running more than 12,500 pokies across 300 hotels throughout the country. <strong>Aristocrat Ltd<\/strong> is the nation\u2019s biggest manufacturer of gambling machines. With a presence in 23 global locations, it is one of the world\u2019s top gaming content and technology companies. <\/p>\n<p>Retail employee fund <strong>Rest<\/strong> and Australia\u2019s third-largest super fund <strong>Aware<\/strong> also have investments in both Endeavour and Aristocrat. Guardian Australia obtained and analysed data from the portfolio holdings disclosures of the country\u2019s 10 biggest super funds. It found that all 10 hold a combined $1.67 billion worth of shares in Aristocrat. <\/p>\n<p>AustralianSuper\u2019s shares in Aristocrat rose to 6.6% in June 2022, up from 5.05%. Almost $921 million of the super fund\u2019s investment as of June came from its flagship option, Balanced. AustralianSuper also put $624 million into Endeavour via the popular option, with $661 million going to the Lottery Corporation and $148 million invested in Tabcorp.<\/p>\n<p>AustralianSuper\u2019s other gambling investments include SkyCity Entertainment ($103 million) and the embattled casino operator Star Entertainment ($4 million).  <\/p>\n<h2>Some Gambling Investments Come From \u201cSocially Aware\u201d Option<\/h2>\n<p>AustralianSuper also invested $16 million in Aristocrat through its Socially Aware option. On top of that, it also holds nearly $45 million worth of stocks in four other major gambling companies in the country in 2022.<\/p>\n<p>The Socially Aware option excludes firms directly engaged in fossil fuel or uranium reserves, land mines, cluster munitions, and tobacco production. The option also removes from its investment list companies receiving red flag rating on human rights and labour rights, as well as those with single-gender boards and involved in environmental or governance controversies.<\/p>\n<p>The report comes as Australia continues to deal with rising problem gambling rates, with <a href=\"https:\/\/www.legitgambling.com\/news\/australians-are-worlds-worst-gamblers-on-sports-betting\/\">Australians considered the world\u2019s biggest gambling losers<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary The top 10 super funds in Australia all hold billions worth of gambling stocks AustralianSuper invested in Aristocrat through its Socially Aware option Australia is fighting gambling addiction as Aussies are considered the world\u2019s biggest gambling losers The biggest superannuation funds in Australia are investing massive sums in the gambling industry. According to a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,1],"tags":[],"class_list":["post-5264","post","type-post","status-publish","format-standard","hentry","category-australia","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Australia\u2019s Largest Super Funds Have Invested Billions in Gambling Firms<\/title>\n<meta name=\"description\" content=\"The biggest superannuation funds in Australia are investing massive sums in the gambling industry.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.top10casinowebsites.net\/news\/australias-largest-super-funds-have-invested-billions-in-gambling-firms\/\" 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