Why cashing out won’t be easy for Australia’s gambling billionaires
Adrian Portelli, Laurence Escalante and Ed Craven have more than just their gaming fortunes in common. They could all face big problems if they try to sell their companies or go public.
LMCT+’s Adrian Portelli, Virtual Gaming World’s Laurence Escalante and Stake.com’s Ed Craven are relatively young and have become extraordinarily rich from their expanding businesses in the grey area of gambling and gaming.
According to last year’s Financial Review Rich List, Portelli is worth $1.29 billion, Escalante’s wealth sits at $3.75 billion and Craven’s fortune is estimated at $4.51 billion.
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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
