Greenstone Partners, Mergers Alliance partner in Australia is proud to have advised Virtual Gaming Worlds (VGW) on its $3.2 billion acquisition by Lance East Office the family office of VGW’s Founder and CEO, Laurence Escalante via a scheme of arrangement.
VGW is an Australian public company headquartered in Perth, Western Australia that is involved in the interactive entertainment industry, harnessing technology and creativity to deliver world-class, free-to-play online social games. VGW has operated in North America for more than a decade, where its high-quality, acclaimed brands including Chumba Casino, Global Poker and LuckyLand Slots are enjoyed by millions of players.
LEO is the family office of Laurence Escalante and was founded in 2021 to manage his private assets, finances, investments and philanthropic activities. LEO and its affiliates are collectively the largest shareholder of VGW, owning approximately 70% of all VGW shares.
Leveraging its experience in the gaming sector and public markets M&A, Greenstone Partners was able to support the Independent Board Committee (“IBC”) in delivering a great outcome for VGW shareholders, marking a significant milestone for the company. The transaction provided minority shareholders with a liquidity opportunity and the flexibility to maintain an investment in the VGW business.
