May 29, 2026 – 4.00pmKim Hames doesn’t hold back when asked about his stake in gambling company VGW.“It was the investment of a lifetime,” says the former deputy premier and health minister of Western Australia. “I bought some for my children. I told many people to invest in it,” he says before teeing off for a round of golf on Rottnest Island.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Primrose RiordanAssociate editorPrimrose Riordan covers private companies and family offices from the AFR’s Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Message Primrose on Signal: https://tinyurl.com/PrimroseSignalJesinta BurtonWestern Australia reporterJesinta Burton is The Australian Financial Review’s Western Australia reporter based in Perth.Fetching latest articles
‘I am awesome’: Inside the unravelling of gambling king Laurence Escalante
For early investors, VGW was a blockbuster bet. But founder Laurence Escalante is facing a personal and regulatory reckoning, and insiders say the red flags were always there.
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