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Multi-millionaire John McGrath has $16 million debt to bookmaker William Hill – The Sydney Morning Herald

Mr McGraths account at William Hill has been held in the name of John Wilson said one insider who added that the real estate figures last bet was in mid December, 2017, when Mr McGrath deposited $500,000 into his account at William Hill. The half a million dollars was not used to reduce his debt levels but allowed him to keep betting.

When asked about Mr McGraths debt to the company, William Hills CEO, Mr Waterhouse, said: I am not aware of any individual client in terms of betting or whether they are a client or not a client whether it is Joe Bloggs or John whoever.

Tom Waterhouse has been running William Hill Australia.

Tom Waterhouse has been running William Hill Australia.

Photo: Andrew Meares

When it was put to him that if he had a single person owing more than $16 million he would have to k…

Read the full article at: https://www.smh.com.au/business/companies/multi-millionaire-john-mcgrath-has-16-million-debt-to-bookmaker-william-hill-20180202-p4yzbf.html

Category: GamblingBy Insolvency GuardianMarch 4, 2018

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Multi-millionaire John McGrath has $16 million debt to bookmaker William Hill – The Sydney Morning Herald

It has been one of the worst kept secrets in the gambling world: prominent real estate figure John McGrath has a $16.2 million gambling debt to the Tom Waterhouse- run betting company William Hill Australia.

This would be the biggest debt ever in gambling history by a single person to a single company in Australia, said one industry insider.

Real estate agent John McGrath is said to have a large debt with William Hill.
Real estate agent John McGrath is said to have a large debt with William Hill. Photo: Louise Kennerley

Confirmation of his debts incurred on horse racing has come to light after a number of industry figures have run their rulers over the books of William Hill which is being offered for sale by its British parent company.

One particular figure has caught the attention of prospective purc…

Read the full article at: http://www.smh.com.au/business/multi-millionaire-john-mcgrath-has-16-million-debt-to-bookmaker-william-hill-20180202-p4yzbf.html

Category: GamblingBy Insolvency GuardianFebruary 2, 2018

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PreviousPrevious post:Entertainment Briefs: Childers and the Serpents Trio slide into the White Horse – BlueRidgeNow.comNextNext post:No risk: The family who own Tasmania’s gambling industry – The Sydney Morning Herald

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