Billionaire Adrian Portelli has clapped back at ‘cowboy’ authorities for threatening to fine him after he was accused of running an unlawful lottery.
Mr Portelli, 35, popularly known as ‘Mr Lambo’ was charged over the conduct of his private lottery business LMCT+, Daily Mail Australia exclusively revealed on Thursday.
In response to the investigation, Mr Portelli on Friday offered to ’round up’ the maximum penalty of $190,000 to $200,000 in exchange for prosecutors dropping the case.
‘We had a good relationship with South Australia and they allowed us to invest millions and millions and millions of dollars into their state,’ he said.
The SA government department confirmed it was prosecuting Mr Portelli and Xclusive Tech Pty Ltd, which trades as LMCT+ just one day after Mr Portelli handed out $150,000 worth of Coles vouchers to struggling western Sydney residents to buy groceries.
Mr Portelli faces nine counts of conducting/assisting in the conduct of an unlawful lottery, and the company faces ten counts of the same charge, the courts confirmed.
If convicted on all charges, Mr Portelli could face a maximum penalty of $190,000. The first mention of the case is scheduled for January 15 in the South Australian Magistrates Court.
Mr Portelli has an estimated net worth of more than $1billion – and he made much of his fortune through LMCT+, a subscription based lottery.
Mr Portelli (pictured) could face a maximum penalty of $190,000. The first mention of the case is scheduled for January 15 in the South Australian Magistrates Court
The 35-year-old claimed he’d met with governing bodies several times to ensure his LMCT+ lottery was legal.
‘They all come back with the same finding, that we are compliant,’ he said
‘The only people, cowboys, I like to refer to them as, is South Australia.’
Mr Portelli alleged his licence for the subscription platform was revoked ‘overnight’ but offered to ‘call it even’ with authorities.
‘It’s a maximum penalty of $190,000. I’ll round it up to $200,000’ he said.
‘Call it even, and stop wasting peoples’ money.’
The statement did not clarify if Mr Portelli intends to plead guilty to the charges against him.
Mr Portelli splashed major cash hosting a lavish bash at his multimillion dollar penthouse in Melbourne’s CBD on Thursday night just hours after he copped charges.
Mr Portelli (pictured with his son) threw a lavish party hours after he was charged and later offered to pay more than the maximum penalty in exchange for authorities dropping the investigation
No expense was spared with go-go dancers and famous Aussie DJ Havana Brown providing the entertainment.
The star-studded guest list included actress Nicky Whelan and Canadian-American YouTubers the Nelk, who were among the revellers who shared images to social media.
He also boasted that his businesses recorded a massive increase in sales following the charges.
‘Sales spiked last night from 6pm across businesses,’ he wrote on social media, appearing to thank the media for the free publicity.
He has been accused by anti-gambling advocates of preying on low-income Aussies who pay up to $100 a month for lottery draws.
He also took a swipe at the SA government and offered a new ‘giveaway’.
‘It’s okay SA we still love you,’ he captioned a selfie with his baby son.
‘Your gambling commissioner won’t allow you to win major life changing prizes so I’ve decided to run exclusive, daily $1000 cash giveaways to you guys instead.’
Mr Portelli (pictured) has been accused by anti-gambling advocates of preying on low-income Aussies who pay up to $100 a month for lottery draws
Tim Costello, chief advocate of the Alliance for Gambling Reform, told Daily Mail Australia that he believed LMCT+ was a gambling business.
‘What is effectively a gambling product exploiting a loophole is deplorable, and I think the loophole should be closed,’ Mr Costello said.
‘The feature that always is the signature of gambling in Australia is it comes from the poorest postcodes, and enriches those who are already massively rich.
‘It’s a transfer from the poorest to the richest, preying on hopes and fears and on poverty.
‘Australia has the biggest gambling losses in the world because we have the most lax policies in this world, and this is an example of that.’
Former South Australia Senator Nick Xenophon, who campaigned against pokies, was not impressed with Mr Portelli’s business practices.
‘This is not what trade promotion licences were intended to be,’ Mr Xenophon said.
‘This looks like a lottery disguised as a trade promotion, and if it is shown to be a loophole it needs to be acted on.
‘It needs to be thoroughly investigated.’
Mr Portelli (pictured with his son) has an estimated net worth of more than $1billion – and he made much of his fortune through LMCT+ , a subscription based lottery
Asked whether it would consider revoking LMCT+’s licence, a NSW Fair Trading spokesperson said, ‘this matter is currently under review by interstate regulators’. NSW Fair Trading is not currently investigating LMCT+, although it held two separate investigations into the company in 2022 and 2023.
The Victorian Gambling and Casino Control Commission also investigated complaints in 2023, of which none resulted in findings against the company, a spokesperson for the commission said.
Meanwhile, the continuing investigation by South Australia’s Consumer and Business Services has resulted in prosecution beginning in that state’s magistrate’s court.
An LMCT+ spokesperson told Daily Mail Australia that the company is a ‘membership reward service which proudly generates millions of dollars for local businesses and creates savings for Australian families’.
‘The business also contributes to positive community initiatives through philanthropic investment,’ the spokesperson said.
‘These outcomes are particularly important during a cost-of-living crisis. Mr Portelli and LMCT+ are very aware of their social licence and take their legal and regulatory obligations seriously.
‘To this end, the business conducts itself in accordance with all required regulatory approvals and partners with government to meaningfully contribute to economic and social projects.
‘LMCT+ looks forward to driving further value for its partners and members into the Christmas holiday period.’
