From Taking Full Control to Stepping Aside
Escalante’s resignation lands very differently because of everything that came before it.
Only months ago, Escalante completed his A$3.2 billion bid to take VGW private, buying out the remaining minority shareholders after a lengthy back-and-forth. The deal put Chumba Casino, LuckyLand Slots, and Global Poker fully under his control and cemented his position at the center of the company he founded.
At the time, the buyout looked like the beginning of a new era. By taking VGW private, Escalante gave the company greater freedom to make difficult decisions without answering to public shareholders, while positioning himself to lead it through one of the most challenging periods in the sweepstakes casino industry’s history.
That plan did not last long. Less than a year later, the founder who spent billions consolidating ownership has stepped down as CEO, leaving VGW searching for a new chief executive.
Why Escalante Is Leaving
Escalante has been away from VGW since January after the company confirmed he was taking a leave of absence following criminal charges brought by Western Australia Police.
The case centres on a series of alleged incidents between June 2025 and January 2026. He faces charges including family violence, aggravated burglary, theft, criminal damage, and drug possession.
Escalante has denied all of the allegations, saying they are untrue and that he intends to defend them in court. The case is due back before Perth Magistrates Court in August.
Throughout his leave, VGW has maintained that the allegations are personal matters and have no connection to the company’s day-to-day operations.
Who’s Running VGW Now?
If you play on Chumba Casino, LuckyLand Slots, or Global Poker, nothing really changes for now. The platforms remain live in the states where they’re still allowed to operate, and VGW hasn’t announced any changes following Escalante’s resignation.
The bigger change is happening behind the scenes. Mats Johnson, who stepped in as acting CEO when Escalante took leave in January, will stay in the role while VGW looks for a permanent chief executive.
And despite stepping down, Escalante isn’t walking away from the company entirely. He may have resigned as CEO and executive chairman, but he still owns it. After taking VGW private through his family office last year, he remains the controlling shareholder, meaning he’ll likely continue to have a significant say in where the company goes from here.
The Next CEO Won’t Have An Easy Job
Finding a replacement is one thing. Giving them an easy job is another.
VGW is still dealing with the same issues that prompted Escalante to take the company private in the first place. Over the past year, the company has withdrawn or scaled back parts of its business in New York, Connecticut, Delaware, Montana, and most recently Indiana, as more states moved to ban or restrict sweepstakes casinos.
Whoever takes over won’t be starting with a clean slate. They’ll inherit the same decisions over where VGW can operate, where it needs to pull back, and how the company responds as more states regulate the sweepstakes model.
What Happens Next
For now, Escalante says he will focus on personal matters, private business, investing, and philanthropy while Johnson continues leading VGW on an interim basis. The search for a permanent CEO is already underway.
Only months ago, Escalante fought to remove every remaining obstacle between himself and full control of VGW.
Now, the company he spent A$3.2 billion taking private is preparing for a future with someone else at the helm
Blaise Luis
