Chumba Casino Revenue Tops A$5 Billion as VGW Hits A$7.3 Billion Before Going Private
New filings show that Chumba Casino generated more than A$5 billion in revenue as parent company VGW posted another year of explosive growth before it went private in 2025.
Chumba Casino, one of the most popular sweepstakes casinos in the U.S., generated A$5.2 billion ($3.7 billion) in revenue for the financial year ending June 30, 2025, according to financial accounts filed on May 22 with Australia’s corporate regulator and cited by Australian media reports.
The results came ahead of founder Laurence Escalante’s successful effort to take the company private at a reported A$3.2 billion ($2.3 billion) valuation.
The scale of the figures further highlights the enormous size of the U.S.-focused sweepstakes casino market, even as operators face mounting scrutiny and legislative bans across multiple states.
Chumba Continues Driving VGW Growth
Chumba Casino’s revenue grew at a higher rate than VGW. The A$5.2 billion result in 2025 represents roughly a 25% increase from the A$4.16 billion ($2.98 billion) it reported in FY2024.
The filings show that VGW, which also operates LuckyLand Slots, LuckyLand Casino, Global Poker, United Slots, and Monopoly Match, generated A$7.3 billion ($5.2 billion) in revenue, a 19% increase year-over-year. Meanwhile, profit grew by 33.5% from A$491.6 million to A$656 million ($470 million).
VGW also held approximately A$1 billion in cash in FY2025, compared to A$548.5 million in June 2024.
Going Private and Regulatory Pressure
Escalante initially approached the VGW board about an acquisition in November 2024. His initial offer was declined, resulting in a higher offer. In August 2025, shareholders voted overwhelmingly in favor of his offer to buy the 30% of shares he didn’t already own. That resulted in Escalante receiving full control of the company.
Escalante argued privatization would better position VGW to navigate increasing regulatory and competitive pressures, particularly in the U.S.
VGW’s 2024 annual report also openly acknowledged the growing regulatory risk associated with its U.S. operations.
The company stated: “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.”
Arguments for privatization also included the ability to restructure parts of the company’s operating and tax structure. That includes relocating its domicile from Australia to Guernsey, a more tax-favorable jurisdiction.
However, despite the company’s continued financial growth, VGW has faced escalating pressure across the U.S. Over the past year, the company’s list of ineligible states expanded from four to 11. Those include major markets such as California and New York. VGW also exited Canada in August 2025.
Additionally, this year, Indiana, Maine, Tennessee, Oklahoma, and Louisiana have passed prohibition bills, potentially leaving VGW without access to 16 states, compared to the 4 states included in the 2025 figures.
These headwinds arrive amid Escalante stepping back from his role as CEO earlier this year after Australian authorities arrested and charged him on multiple family violence and drug-related offenses. Former chief marketing officer Mats Johnson took over as acting CEO.
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