The Attorney General of Kentucky, Russel Coleman, has sued Kalshi, Polymarket, and VGW in three separate lawsuits filed on June 17, accusing the operators of offering illegal...
VGW founder Laurence Escalante resigns as CEO & Chairman
The founder of Virtual Gaming Worlds (VGW), Laurence Escalante, has stepped down from his CEO and executive chairman positions after facing charges connected to domestic violence and drug offences.
The company shared that Escalante would resign from all his roles effective immediately after being on a leave of absence from the company for the last 5 months. According to VGW, Escalante aims to focus on personal matters and his philanthropic work through the family office.
VGW shared in a statement:
“Mr Escalante has been on a leave of absence since January, when the company became aware of charges made against Mr Escalante by WA Police that are unrelated to VGW and personal in nature.”
Escalante was charged with family violence, destruction of property, unlawful assault, and possession of drugs such as MDMA and cocaine with the intention to sell or supply. Since then, he has denied the allegations.
The company further stated:
“At this time, VGW appointed senior executive Mats Johnson as acting CEO to lead the business alongside its experienced executive leadership team. Mr Johnson will remain acting CEO while the company undertakes a global search for this key leadership role. Mr Escalante informed the company he had decided to resign to focus on personal matters, as well as his private business.”
The billionaire with a net worth of over $4.5 billion founded the company back in 2010, which currently operates some of the biggest sweepstakes brands in the United States, like Chumba Casino, LuckyLand Slots, and Global Poker.
Virtual Gaming Worlds, the parent company of Chumba Casino and Global Poker, is departing from the Canadian market, closing access to the platforms for Canadian players.
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