Virtual Gaming Worlds founder Laurence Escalante has resigned from his position as chief executive officer and executive chairman of the Board of Directors of the company, after taking a five-month leave amid serious allegations.
The Perth-based company announced today (July 3) that the resignation is effective immediately. Escalante is going to focus on his “personal matters, private business, investments, and philanthropy,” according to a statement.
The billionaire requested leave in January, after VGW learned of the charges filed against him by the Western Australia Police. The company said at the time that these were strictly personal matters unrelated to the operation.
Escalante faces several charges, including aggravated home burglary, domestic violence, and drug possession. In January, the businessman told The Sydney Morning Herald that the accusations were false and that he was ready to fight the charges.
The Perth Magistrates Court is expected to resume the case in August. Mats Johnson, who took over as interim CEO of VGW in January, will remain in the role until a permanent successor is chosen.
Regarding Escalante’s departure, Johnson commented: “We appreciate Laurence’s achievements and contributions, as well as the trust placed in us—and in our 1,300 team members—to carry forward VGW’s successes into the future.”
Escalante founded VGW in 2010. Among its main brands are Chumba Casino, LuckyLand Slots, and Global Poker, which offer casino-style games but use virtual currencies and sweepstakes-based promotions. Most of its customers are in the United States, though it also has users in Australia, Malta, the Philippines, Poland, and other countries.
In 2025, Escalante, through his family office Lance East Enterprises, which already owned 70% of VGW, bought an additional 20% of the company’s shares from minority investors, which valued VGW at US$2.2 billion.