Shareholders of VGW Holdings approved a takeover offer by company founder Laurance Escalante, making way for the firm to go private amid US regulatory scrutiny.On August...
VGW to end Chumba Casino and Global Poker in Canada
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.
On August 28, VGW ended the purchase of Gold Coins, and on September 25, it had already stopped the gameplay on both platforms as part of a wider business strategy to concentrate resources in markets that support long-term growth.
VGW sent an email to its customers:
“We understand this is an adjustment after many years, and our valued Canadian players may be disappointed. This decision wasn’t taken lightly, and our focus is on ensuring players are fully informed about the changes and that this transition is as smooth as possible.”
This exit mirrors moves the company has already made in the United States. Over the past year, VGW exited several states, including New York, New Jersey, Nevada, and Michigan. All the exits were in response to growing restrictions on sweepstakes-style casinos.
Moreover, VGW is undergoing a corporate shift. Founder Laurence Escalante, who previously owned 70% of the business, recently bought the remaining shares, making VGW a fully private company.
Sweepstakes casinos, led by VGW Holdings, face a wave of legislative pressure across the US, as some states decide to restrict or ban online sweepstakes casinos.States,...
