Global Poker, by far the world’s largest sweepstakes online poker site, made more than $203 million (AUD $294 million) in revenue before issuing prize payouts during its last fiscal year, up 19% from the year before, according to financials seen by PRO.
Meanwhile, its parent company, Australian gaming juggernaut VGW Holdings Limited, reported a record $4.2 billion in annual revenue and said it was considering launching new brands in the future, possibly as part of a “multi-brand aligned strategy.”
It’s a strong signal that the sweepstakes online poker industry, which has seen tremendous expansion in the space of just a few months, could expand even further.
VGW’s future plans and financials for its 2024 fiscal year, which ended on June 30, were contained in the company’s annual report, which was filed with the Australian Securities & Investments Commission (ASIC) on September 24.
Under Australian law, companies are required to file financial reports with the ASIC if they meet certain criteria. VGW is an unlisted public company that trades on Primary Markets, a Sydney-based platform for such companies.
