The private social gaming company owned by billionaire businessman Laurence Escalante says it is putting “significant resources” into finding new revenue streams amid increasing competition and regulatory pressures in the United States.
The Australian Financial Review can reveal that Virtual Gaming Worlds, which has pioneered a loophole in US laws allowing it to offer sweepstakes and casino-like experiences online, has been sent an order to halt operations in Delaware.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
