TLDR VGW revenue rose 19% to $5.2 billion in FY2025, with profit up 33.5% to A$656 million Chumba Casino drove most of the growth, generating $3.7 billion in revenue alone Founder Laurence Escalante took VGW private in a $2.3 billion buyout deal some shareholders called undervalued Escalante was arrested on assault and drug charges and stepped down, with Mats Johnson named acting CEO VGW faces growing U.S. regulatory pressure, product pullbacks in several states, and new lawsuits including one from Baltimore officials VGW Posts Record Revenue Ahead of Privatization
Virtual Gaming Worlds reported revenue of A$7.3 billion ($5.2 billion) for the year ending June 30, 2025. That marked a 19% increase from the prior year.
Profit climbed 33.5% to A$656 million. Cash reserves nearly doubled to A$1 billion, up from A$548.5 million.
The results came just before founder Laurence Escalante completed a deal to take the company private in 2026. The buyout was valued at about A$3.2 billion ($2.3 billion).
Some shareholders argued the deal undervalued the business given its growth trajectory.
Chumba Casino, VGW’s flagship brand in the U.S. sweepstakes market, was the main growth engine. It brought in A$5.2 billion ($3.7 billion) in revenue for FY2025.
That was a 25% jump from the previous year’s A$4.16 billion. Chumba has become one of the biggest names in online sweepstakes gaming.
VGW also operates LuckyLand Slots, LuckyLand Casino, Global Poker, United Slots, and Monopoly Match. All contributed to the company’s expansion.
Escalante already controlled 70% of VGW before the buyout. He built his fortune by exploiting a gap in U.S. law that allowed sweepstakes-style casino games to operate online.
The model was first launched on Facebook. Users played with tokens instead of cash but were encouraged to buy “gold coins” to keep playing, blurring the line with