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VGW Shareholders Approve Chumba Sale & MyPrize Gets $250M Valuation
It's another week of big news in the social and sweepstakes casino industry, as VGW shareholders approve sale to the company's founder and newer sweeps casino MyPrize gets an amazing valuation in their latest funding round.
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Chumba Casino and Global Poker, the two VGW sites that took action from Canadian players, are pulling out of the Canadian market completely.
This Week's Sweeps Casino News
The news coming out of the sweepstakes and social casino industry this week is huge. Despite the actions of state attorneys general, state legislatures, and regulatory bodies, it is clear that sweepstakes gaming is here to stay.
This week we see a strong move from Chumba Casino's founder, scooping up all the outstanding shares of the company in a bold play, plus relatively new social casino MyPrize gets an amazing valuation, which surely would have never happened if investors didn't see a bright future for social casino gaming in the United States.
Let's get to those details on these two big stories...
Steve Lapinski specializes in just about everything related to slot machines and casino games, both online and in land-based casinos in the USA. With over 25 years experience in the online gaming industry and nearly 40 years as a recreational gambler, the breadth of his knowledge on these topics is matched by few. Steve is passionate about casinos, and he takes great pride in sharing his knowledge of the subject with his readers.
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Social Casino MyPrize Gets Impressive $250 Million Valuation
At the end of July 2025, MyPrize, a newer social casino just launched during the summer of 2024, announced that they had successfully closed another funding round, bringing in $21 million and valuing the company at an incredible $250 million.
This brings the total raised since the company's founding to $38 million.
MyPrize was founded by Zach Bruch in 2023 and it officially launched its social casino just last year, making this latest funding accomplishment even more impressive.
According to the company, MyPrize is on pace to pass $100 million of annual revenue during their first year in business and achieve profitability.
According to Bruch, "The growth we are seeing at MyPrize proves that social gaming has fully arrived to the US market."
MyPrize distinguishes itself through their livestreams of creator content and sweepstakes casino games that include proprietary AI player engagement tech.
According to sources, this new round of funding for MyPrize will be used for expansion, including onboarding of creators and celebrities, enhancing their user experience and expanding the site's AI capabilities.
Also, in case you missed it, last week we reported that MyPrize is one of many social casinos that left the New Jersey market at the end of July.