A former University of Otago accounts manager who admitted stealing almost $240,000 from the university over seven years told police he had a gambling problem and was in debt.

Graeme Jeffrey Pettitt, 61, now unemployed, did did not seek further name suppression when he reappeared in Dunedin District Court today.

He pleaded guilty to eight charges of accessing the university's electronic accounting system between March 2005 and March this year.

The summary of facts said Pettitt set up a bank account for a fictitious creditor called Hadaad Syndicate and made 72 fraudulent payments into the account totalling $238,846.61.

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He was remanded in custody until sentencing in October.