John McGrath has denied his gambling debts are out of control or in any way linked to his stake in his embattled real estate business.
Shares in McGrath Ltd were placed in a trading halt on Thursday as the company sought further information from its founder related to recent media reports about Mr McGrath, who remains a major shareholder.
Fairfax Media has claimed Mr McGrath has $16.2 million in gambling debts with betting company William Hill Australia.
And a report from News Corp’s The Australian claimed Mr McGrath has a $100 million margin lending facility connected to a private investment company.
McGrath Ltd advised the ASX on February 8 that Mr McGrath had confirmed there was no margin lending facility related to his stake in the comp…
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