WA gaming giant posts $295m profit

22/10/2021 - 11:17

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Perth-based online gaming company VGW Holdings raked in $2.2 billion in revenue and $295 million profit in FY21, financial statements lodged with ASIC this week reveal.

WA gaming giant posts $295m profit
VGW Holdings founder and executive chairman, Laurence Escalante. Photo: Attila Csaszar

Perth-based online gaming company VGW Holdings raked in $2.2 billion in revenues and $295 million profit in FY21, financial statements lodged with ASIC this week reveal.

The low-profile private company enjoyed significant growth over the period through the success of its online casino style games which generate income through virtual currencies and sweepstakes.  

Revenues of $778.8 million in 2020 grew 186 per cent over the period.

Its leading moneymaker was North American social gaming platform Chumba Casino which accounted for over half of company revenue at about $1.5 billion.

VGW Holdings spent $80.9 million on marketing during the year with $50 million of that figure allocated to targeting Facebook users.

Shareholders received $210 million in partially franked dividends over the period compared to $11.3 million in the previous financial year.

The company has 614,667,375 shares on issue.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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