Adrian ‘Mr Lambo’ Portelli hits back with one word smackdown after billionaire was accused of running ‘unlawful lottery’

Billionaire Adrian Portelli has hit back at ‘cowboy’ authorities for threatening to fine him after he was accused of organizing an illegal lottery.

Portelli, 35, popularly known as ‘Mr Lambo’, was charged over the conduct of his private lottery company LMCT+, Daily Mail Australia exclusively revealed on Thursday.

In response to the investigation, Portelli offered Friday to reduce the maximum fine from $190,000 to $200,000 in exchange for prosecutors dropping the case.

“We had a great relationship with South Australia and they let us invest millions and millions and millions of dollars in their state,” he said.

South Africa’s government department confirmed it is 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 Western Sydney residents who had difficulty doing their shopping.

Mr Portelli faces nine charges of conducting/aiding the operation of an unlawful lottery, and the company faces 10 charges of the same charge, the courts confirmed.

If convicted of all charges, Portelli could face a maximum fine of $190,000. The case is scheduled to be first mentioned in the South Australian Magistrates Court on January 15.

Mr. Portelli has an estimated net worth of more than $1 billion — and he made much of his fortune through LMCT+, a subscription-based lottery.

The 35-year-old claimed he had spoken to governing bodies several times to ensure his LMCT+ lottery was legal.

“They all come back with the same finding: that we are in compliance,” he said

“The only people, cowboys, as I like to call them, is South Australia.”

Mr Portelli claimed his license for the subscription platform was revoked ‘overnight’, but offered to ‘settle things down’ with authorities.

“It’s a maximum fine of $190,000. I’ll round it up to $200,000,” he said.

“Call it right and stop wasting people’s money.”

The statement did not clarify whether Portelli plans to plead guilty to the charges against him.

Mr Portelli splashed the cash at a lavish bash at his multimillion-dollar penthouse in Melbourne’s CBD on Thursday evening, just hours after filing the charges.

No expense was spared; go-go dancers and famous Australian DJ Havana Brown provided the entertainment.

The star-studded guest list included actress Nicky Whelan and Canadian-American YouTubers the Nelk, who were among the revelers who shared images on social media.

He also boasted that his companies saw a huge increase in sales after the indictment.

“Sales peaked last night from 6pm across all businesses,” he wrote on social media, appearing to thank the media for the free publicity.

He has been accused by 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, we still love you,” he captioned a selfie with his son.

“Your gaming commissioner won’t allow you to win big, life-changing prizes, so I’ve decided to host exclusive, daily $1,000 cash giveaways for you instead.”

Tim Costello, chief counsel for the Alliance for Gambling Reform, told Daily Mail Australia he believed LMCT+ was a gambling company.

“What is essentially a gambling product that exploits a loophole in the law is deplorable, and I think the loophole needs to be closed,” Costello said.

“The thing that has always characterized gambling in Australia is that it comes from the poorest postcodes and enriches those who are already extremely wealthy.

‘It is a transfer from the poorest to the richest, chasing hope and fear, and poverty.

“Australia has the highest gambling losses in the world because we have the most lax policies in the world, and this is an example of that.”

Former South Australia senator Nick Xenophon, who campaigned against pokies, was unimpressed by Portelli’s business practices.

“This is not the purpose of trade promotion licensing,” Mr Xenophon said.

“This appears to be a lottery disguised as a trade promotion, and if it turns out to be a loophole, action should be taken.

“It needs to be thoroughly investigated.”

Asked whether it would consider revoking LMCT+’s license, a spokesperson for NSW Fair Trading said: “This matter is currently under review by interstate regulators.” NSW Fair Trading is not currently investigating LMCT+, although it conducted two separate investigations into the company in 2022 and 2023.

The Victorian Gambling and Casino Control Commission also investigated complaints in 2023, none of which resulted in findings against the company, a commission spokesperson said.

Meanwhile, the ongoing investigation by Consumer and Business Services in South Australia has resulted in a prosecution commencing with that state’s magistrate.

A spokesperson for LMCT+ told Daily Mail Australia the company is a “membership rewards service that proudly generates millions of dollars for local businesses and creates savings for Australian families.”

“The company also contributes to positive community initiatives through philanthropic investments,” the spokesperson said.

“These outcomes are especially important during a cost-of-living crisis. Mr. Portelli and LMCT+ are very aware of their social license and take their legal and regulatory obligations seriously.

‘To this end, the company conducts itself in accordance with all required regulatory approvals and works with the government to make a meaningful contribution to economic and social projects.

‘LMCT+ looks forward to creating even more value for its partners and members during the Christmas holidays.’