Billionaire Adrian Portelli is laying the groundwork to launch his wildly popular pseudo-lottery business into the United Kingdom as part of a business expansion that includes branded petrol stations and kiosks in shopping centres across Australia.
It’s a move that could catapult “Lambo guy” into the league of Australia’s richest people and make his subscription-based prize draw business one of the country’s biggest private companies.
However, anti-gambling advocates in the UK and Australia are concerned Portelli’s new business ventures both here and abroad, will increase gambling advertising in places frequented by families.
“This is the crack cocaine of accessibility,” Alliance For Gambling Reform chief advocate Reverend Tim Costello said.
“In terms of predatory action by a loophole merchant – a Houdini merchant when it comes to escaping consequences – it is very serious. State governments and the federal government have to act.” Australians’ total gambling expenditure is $31.5 billion a year according to the most recent government estimates.
UK company records show Portelli, 33, set up a London outpost for his LMCT+ business in June.
The UK company, was originally called Powerball Portelli Ltd before changing its name to XClusive Tech Ltd – similar to the Australian company that operates LMCT at home, XClusive Tech Pty Ltd.
Portelli hosed down speculation the establishment of the companies indicated he would soon launch into the UK when contacted by this masthead this week.
“We set up companies for a range of business reasons, including exploring future opportunities and protecting business interests,” Portelli said.
“We’re always looking at growth opportunities, including overseas, but there’s nothing specific I’m announcing about the UK at this stage.”
The self-made billionaire – who now prefers to be known as McLaren Man, rather than Lambo Guy –also shot back at suggestions that LMCT was a gambling product, saying that description was “completely off the mark” and misunderstood his business.
“Our team works with local businesses across the country to provide deals that help Australians reduce their cost of living, while also driving real sales to small businesses.
“So the idea that this is simply about irresponsibly promoting gambling just isn’t accurate.”
Portelli, whose wealth has been estimated at $1.6 billion, has grown to become a household name in Australia with a legion of 2 million social media fans drawn in by the mass marketing of LMCT’s “giveaways” of supercars, cash prizes of as much as $2 million and multi-million dollar houses purchased on The Block.
He also has a new TV show, My Reno Rules, about to launch on the 7 Network, and business interests in soft drinks, alcopops, childcare centres and property.
In Australia, LMCT has used legal loopholes in state gambling regulations, barring South Australia, to avoid strict regulations that cover wagering and raffle businesses. (LMCT and Portelli are currently defending criminal charges in SA for running an illegal lottery.)
Under LMCT’s local model, members pay monthly fees of up to $99 to access a list of partner businesses offering discounts and entry into prize draws.
UK anti-gambling advocates are also worried about LMCT’s entry into their market.
Matt Zarb-Cousin, director of London-based organisation Clean Up Gambling and former press secretary to ex-Labour leader Jeremy Corbyn, said LMCT was similar to other groups in the UK that were using gaps in the system to be classified as raffles rather than a harmful gambling product.
“People get sucked in and they buy too many tickets. At the very least, consumers need to be aware of their chances of winning,” said Zarb-Cousin.
“There should also be deposit limits and self-exclusion policies for people if they want to quit because it’s quite addictive,” he said.
Portelli is also moving to roll out hundreds of LMCT-branded petrol stations, complete with kiosks allowing people to sign up to special prize draws. It has already acquired its first station, in Preston.
The business is also experimenting with kiosks in shopping centres across Australia which allow people to sign up to the group’s giveaways and special deals.
Portelli said he was excited about building a portfolio of petrol stations, where he’s been promising to cut prices, at a time when the cost of filling a tank is blowing out due to the war in Iran.
“We have been very open about our ambition to continue expanding the LMCT brand into new categories and consumer touchpoints to help get the most value for our members,” he said.
“That includes exploring how the brand could appear in physical retail environments and everyday customer settings which has always been a passion of mine. Something I’ve wanted to always try and have a crack at.
“The shopping centre machines are part of a broader strategy to make the brand more visible and accessible, while also improving convenience for customers who want to engage with the platform in a physical setting.
“It’s not unusual for a business to test different channels and formats as it grows.”
The kiosk and petrol station roll-outs have raised particular concerns about the ethics of having a gambling brand so ensconced in Australian culture and advertised so rampantly to people, including children.
Costello said the expansion of Portelli’s business should encourage reform both at a state and federal level.
“It’s outrageous,” Costello said.
“We all know it’s encouraging gambling and with Australia having the greatest losses per capita and greatest harm in the world from gambling, these loopholes must be legislatively shut by the state governments.
While Portelli’s expansion plans have received mixed reviews online, a legion of petrol-head fans are excited about the prospect of cheap fuel. On Reddit one fan remarked: “Adrian to run our country”; “Run for parliament & you got my vote 👑”
Portelli said describing LMCT as “predatory” was selective criticism and it was misguided to insist that it should not exist in places where kids might be around.
“Look at what some of the biggest companies in the country do every year. Coles and Woolworths run promotions like Little Shop, Stikeez, Magical Builders, Ooshies and Disney cards.
“Those campaigns are targeting children and clearly designed to get families to spend more so they can collect more items. Those promotions also push families to spend more at a time when the cost of living is through the roof.”
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