VGW Founder Laurence Escalante Plans to Buy Out Minority Shareholders
Laurence Escalante, the founder of Virtual Gaming Worlds (VGW), has announced plans to buy out minority shareholders. Escalante, who currently owns 70% of the company, aims to take full control and steer VGW's future independently.
VGW, valued at approximately $3.2 billion, operates popular sweepstakes platforms such as Chumba Casino, Luckyland Slots, and Global Poker. Despite facing regulatory challenges in the United States, including scrutiny in certain states and exiting markets like New York and Delaware, Escalante remains determined to privatize the company.
Escalante has been open about the company's direction, using social media to engage with critics and investors. However, he has cited legal restrictions under the Corporations Act as a barrier to full transparency. The authority that took legal action against companies like VGW in Montana remains unnamed in available search results.
Escalante's buyout, if successful, will give him 100% ownership of VGW. This move could allow him to navigate regulatory challenges more freely and determine the company's future direction independently.
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