Gambling Billionaire Escalante In Expletive Laden Rant To Investors

Perth-based billionaire Laurence Escalante, founder of Virtual Gaming Worlds (VGW), recently ignited controversy among investors. In a candid Telegram message, Escalante urged shareholders who lack confidence in his leadership to divest their stakes in the company.

Financial Transparency Concerns

Escalante’s outburst came in response to mounting inquiries regarding the opacity of VGW’s financial disclosures. In a strategic pivot, the company altered its reporting cadence from biannual to annual. This shift has led to investor skepticism about the timeliness and availability of crucial financial information, compounded by VGW’s sluggish progress in establishing an online investor hub.

“We share what we choose to share to avoid legal complications and unequal access to information,” Escalante stated firmly. “If you don’t trust us, please don’t remain shareholders.”

His frustration boiled over as he accused investors of spreading misinformation, specifically targeting financial advisor Ricky Saini. “Can you shut the f— up, Ricky Saini? You have no idea what you’re talking about, nor will I disclose any details because that contravenes the Corporations Act,” he asserted defiantly.

VGW’s Stellar Performance Amidst Scrutiny

Despite these concerns, VGW has achieved remarkable financial success, reporting record revenues of AU$6.13 billion (approximately US$4.15 billion) in the last fiscal year—an impressive 27% increase from 2023. This growth translated into net profits of AU$491.6 million (about US$335 million), marking a 30% rise year-over-year.

Escalante, who holds around 70% of VGW shares, is reportedly valued at AU$4.37 billion (approximately US$2.9 billion) as of 2025.

Navigating Regulatory Challenges

VGW finds itself under heightened scrutiny from regulatory bodies and tax authorities. The Australian Taxation Office is currently examining VGW’s tax obligations in Australia, the U.S., and Malta, where the company is licensed.

In the U.S., state regulators are investigating VGW’s sweepstakes model, which allows players to engage in gaming activities despite the absence of necessary licensing. For instance, Delaware’s Division of Gaming Enforcement issued a cease-and-desist order to VGW Luckyland Inc., prompting the company to withdraw from the state while asserting its compliance with all applicable laws.

VGW has also exited several states, including Michigan, Connecticut, Idaho, Washington, Montana, and Nevada, due to increasing regulatory pressures.

Escalante’s Emotional Turmoil

Escalante’s Telegram remarks are not isolated incidents; they represent a pattern of emotional expressions in the face of adversity. Just last month, he took to Instagram to address what he termed “vindictive and selfish rumors” about his private life, proclaiming, “Lies live in secret, I’m the f—ing light.”

The company has not only contended with regulatory hurdles but has also faced a barrage of lawsuits. A Georgia case was dismissed due to insufficient jurisdiction, with the court concluding that VGW’s limited interactions with Georgia residents did not meet the legal threshold for jurisdiction under the state’s long-arm statute.

Conclusion

As VGW navigates these turbulent waters, the company’s commitment to transparency, legal compliance, and shareholder engagement will be crucial in maintaining investor confidence and safeguarding its impressive growth trajectory. The evolving landscape of the gambling industry demands agility and responsiveness, with companies like VGW at the forefront of redefining operational norms.

Written by Adam Roarty, an experienced writer with a robust background in the gambling industry, contributing his insights to platforms such as Oddschecker, CoinTelegraph, and Gambling Industry News.