Virtual Gaming Worlds, the online casino founded by billionaire Laurence Escalante, is expanding into lotteries after posting a 30 per cent jump in profits powered by a lucrative sweepstakes business in the United States.
The company, which pioneered the use of a regulatory loophole to offer casino-like games with cash prizes in US states where gambling is otherwise banned, is one of a small number of Australian firms making outsize profits from online betting overseas.
