Laurence Escalante has joined John Gandel, Kerry Stokes and Andrew Forrest in buying a Bombardier, as his social gaming company breaks revenue records.
declared a dividend of 17¢ a share with a record date of December 20, equating to a $105 million windfall for its owners.
But he has already spent it – plus most of his share of the $202 million in dividends previously paid by VGW in 2021-22 – to become one of the handful of Australians to own a Bombardier Global 7500 jet. Almost all of VGW’s revenue is derived from its millions of players in North America, where its role in alleviating lockdown boredom helped the company increase its income by 186 per cent to $2.23 billion in 2020-21, while net profit rose 361 per cent to $358 million.
Under US contests and sweepstakes law, the “sweeps coins” are in effect a trade promotion for the sale of the virtual gold coins, and therefore legal.
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