I would be strongly against having something like that near the institutions of learning. I understand that it may be a good way to teach people the hard lessons of being careful with your assets and as a whole, but if my child would have the temptation of going somewhere like that, I would speak with them about the effects it could have and why it's so important to think first, then do something you won't regret afterwards.
When casino is near the institutions of learning, that will attract students attention to know what is inside the casino. They will not focus with their study but trying to search for more information.
Then, some student will go to that casino and playing some gambling games and tells the other student about how exciting the gambling games on the casino. That will makes more student go to that casino and forget their study because that can makes them feels excitement than study.
If my child asks me about that, I will explain why that could be dangerous for them. They should know about the effect of playing gambling and lose their control in gambling so they can see what could happens to their life. That can gives more problem to their parents and not just their children because teachers will invite parents to the school and ask what is happens to their child.
Lets make first a clear understanding who is a student, as it translation of this word is similar for a person who attends school, and a person who attends university.
If a university students attends a casino, then how can it be wrong, if this person is definitely +18 already. Such persons should be fully aware of what gambling and addiction is. They are old enough to be responsible for their actions. But, if casino isnt something illegal, they wont let school student in and let him gamble. So he wont be able to "tell other students about excitement of gambling". Moreover, I think that school student wont even plan to visit offline casino, instead will enter online casino and deposit with his card. Nevertheless, with or without offline casinos near school or university, students will gamble if they want, and nobody could do anything about it, as you cant control students 24/7.