Chumba Casino has recorded more than A$5 billion in annual revenue, highlighting continued expansion across the sweepstakes gaming sector as its parent company VGW Holdings moved further into private ownership. Financial accounts filed on May 22, 2025, show Chumba generated A$5.2 billion ($3.7 billion) for the year ending June 30, 2025, according to regulatory filings reported in Australian media.
The results came shortly before founder Laurence Escalante completed taking VGW private at a valuation of around A$3.2 billion ($2.3 billion). The deal gave Escalante full control after shareholders approved his offer to acquire the remaining 30% stake.
VGW operates LuckyLand Slots, LuckyLand Casino, Global Poker, United Slots and Monopoly Match. Across its portfolio, the company reported A$7.3 billion ($5.2 billion) in revenue for FY2025, a 19% increase year-on-year. Profit rose 33.5% from A$491.6 million to A$656 million ($470 million), while cash holdings reached about A$1 billion, up from A$548.5 million in June 2024.
Chumba Drives Group Growth
Chumba Casino remained VGW’s main growth engine. Its A$5.2 billion revenue marked roughly 25% growth from A$4.16 billion in FY2024, reinforcing its position as the group’s leading brand.
The sweepstakes casino sector continues expanding in the United Statesdespite rising regulatory scrutiny. VGW’s filings reflect strong demand alongside mounting legal and operational pressure across key markets.
Privatization and Strategic Shift
Escalante first approached VGW’s board in November 2024 with a proposal to acquire the company. After initial resistance, a revised offer was later accepted, leading to shareholder approval in August 2025. The deal allowed Escalante to take full ownership of the company he founded.
The privatization was framed as a strategic step to better manage regulatory uncertainty, particularly in the United States. VGW’s previous annual disclosures highlighted this risk directly, stating: “To the degree that operations in the United States or Canada are impacted or challenged by regulators, VGW’s core business and ability to operate may be materially adversely impacted.”
Plans linked to the transition also included potential restructuring of corporate and tax arrangements, including consideration of relocating the company’s domicile from Australia to Guernsey.
Regulatory Pressure Expands
Despite strong financial results, VGW has faced growing restrictions. The number of ineligible US states rose from four to 11 over the past year, including California and New York. The company also exited Canada in August 2025.
Additional bans followed in 2025 as Indiana, Maine, Tennessee, Oklahoma and Louisiana passed prohibition laws. These measures could reduce VGW’s access to up to 16 US states compared with earlier periods.
The pressure coincides with leadership changes after Escalante stepped back as CEO following legal issues in Australia. Former chief marketing officer Mats Johnson now serves as acting chief executive.
Even with these challenges, VGW’s latest figures show continued revenue and profit growth driven by Chumba Casino.
Source:
“Chumba Casino Revenue Tops A$5 Billion as VGW Hits A$7.3 Billion Before Going Private”, gamblinginsider.com, May 26, 2026
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