A financial teardown of Laurence Escalante’s $5 billion gambling empire
Laurence Escalante built Virtual Gaming Worlds (VGW) Holdings from his basement into a global gambling powerhouse that does nearly $5 billion in revenue.
Before founding VGW, Laurence started as a devout Christian and ran a religious-focused gaming company straight out of university, White Knight Games.
White Knight originally aimed to keep “Christ First” in all their business activities, pledging 10% of game profits to reduce poverty in the Philippines.
Sweepstakes casinos offer the exact same games as other online casinos: roulette, slot machines, blackjack, poker, you get the picture.
Sweepstakes coins are redeemable for cash, with most operators specifying an exchange rate where 1 Sweepstake Coin = US$1. However, sweepstakes coins can’t be directly purchased through the game. They need to be earned through daily rewards, challenges and other ‘bonus’ mechanisms.
Gold Coins are a virtual currency that cannot be converted into cash. Gold Coins can, however, be directly purchased in the store, similar to how gems can be purchased in Clash of Clans.
