TLDR
- Chumba Casino generated A$5.2 billion ($3.7 billion) in revenue for the financial year ending June 2025, up 25% from the prior year
- Parent company VGW posted A$7.3 billion ($5.2 billion) in total revenue, a 19% year-over-year increase, with profit rising 33.5% to A$656 million
- Founder Laurence Escalante took VGW private at a reported A$3.2 billion valuation after shareholders approved his buyout in August 2025
- VGW now faces bans or restrictions in up to 16 U.S. states, up from just 4, and has exited Canada
- Escalante stepped back as CEO earlier this year after being arrested and charged with family violence and drug-related offenses in Australia
Chumba Casino, one of the biggest sweepstakes casinos in the United States, brought in A$5.2 billion ($3.7 billion) in revenue during the financial year ending June 30, 2025. The figures were filed on May 22 with Australia’s corporate regulator.
The results show a roughly 25% jump from the A$4.16 billion Chumba reported in the prior financial year. The growth came as the broader sweepstakes casino market in the U.S. continued to expand.
Parent company VGW, which also runs LuckyLand Slots, LuckyLand Casino, Global Poker, United Slots, and Monopoly Match, posted total revenue of A$7.3 billion ($5.2 billion). That marked a 19% increase year-over-year.
Profit at VGW rose 33.5% to A$656 million, up from A$491.6 million the year before. The company also held roughly A$1 billion in cash at the end of the financial year, nearly double the A$548.5 million it held in June 2024.
VGW Goes Private Under Escalante’s Buyout
The financial results were filed ahead of founder Laurence Escalante’s successful push to take VGW private. He first approached the board about an acquisition in November 2024.
His initial offer was turned down. A higher bid followed. In August 2025, shareholders voted overwhelmingly to approve his offer to buy the 30% of shares he did not already own.
The deal valued VGW at a reported A$3.2 billion ($2.3 billion). Escalante argued that going private would help VGW handle growing regulatory and competitive pressures in the U.S.
Plans tied to the privatization included relocating VGW’s domicile from Australia to Guernsey, a jurisdiction with more favorable tax treatment. The company also looked to restructure parts of its operating setup.
VGW’s own 2024 annual report acknowledged the risks it faces. The company stated that if U.S. or Canadian regulators challenged its operations, the core business could be “materially adversely impacted.”
Regulatory Pressure Mounts Across the U.S.
Despite the strong financial performance, VGW is dealing with increasing restrictions. Over the past year, its list of ineligible U.S. states grew from four to 11, including large markets like California and New York.
The company also pulled out of Canada in August 2025, saying the vast majority of its players are in the U.S.
This year, five more states — Indiana, Maine, Tennessee, Oklahoma, and Louisiana — have passed bills to ban sweepstakes casinos. That could leave VGW shut out of 16 states total, compared to just 4 reflected in the 2025 financial figures.
The legislative trend reflects a broader push across the country to regulate or prohibit sweepstakes-style gambling platforms. Multiple states have moved to draw clearer lines between these platforms and licensed online casinos.
These challenges come during a period of leadership change at VGW. Earlier this year, Escalante stepped back from his role as CEO after Australian authorities arrested and charged him on multiple family violence and drug-related offenses.
Former chief marketing officer Mats Johnson has taken over as acting CEO. VGW has not publicly commented on a timeline for permanent leadership.
The company’s financial filings show a business that is still growing fast but facing a rapidly shifting legal landscape in its largest market.
