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Virtual Gaming Worlds’ Perth-based billionaire founder Laurence Escalante has resigned as chairman after being charged with domestic violence and drug offences earlier this year.
A statement from Escalante’s booming online casino group was posted late on Friday afternoon, with his company citing ongoing criminal charges levelled against him by WA police in its announcement of his resignation.
It said Escalante had opted to resign to focus on his philanthropic work. He has also resigned from a number of other companies he had stakes in previously.
Escalante, 44 and owner of the Virtual Gaming Worlds empire, which operates a network of casino-style online games in the United States, is currently facing a number of charges, including persistently engaging in family violence and criminal damage or destruction of property.
He has signalled he intends to fight the charges.
“Mr Escalante has been on a leave of absence since January, when the company became aware of charges made against Mr Escalante by WA Police that are unrelated to VGW and personal in nature,” the statement said.
“At this time, VGW appointed senior executive Mats Johnson as acting CEO to lead the business alongside its experienced executive leadership team. Mr Johnson will remain acting CEO while the company undertakes a global search for this key leadership role.
“Mr Escalante informed the company he had decided to resign to focus on personal matters, as well as his private business, investing and philanthropic interests at his family office.”
Johnson was first appointed to the role in January as backfill for Escalante, with the company boasting of his “25 years of digital and gaming sector experience across both public and private businesses globally, and expertise across VGW’s business”.
Johnson went on to praise his former colleague, paying homage to its founder who started VGW 16 years ago in Perth.
“[Escalante] pioneered a new social gaming category that is now a major market in the US, the largest consumer and gaming market in the world, delivering world-class entertainment to millions of players,” he said.
“We thank Laurence for these and many other achievements and contributions at VGW, and for the confidence he is showing in us – and all our 1300 team members – to continue VGW’s successes in the future.”
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