Joshua Chan is a name that resonates mainly with real money gamblers, the reason being that he is the creator and founder of the LCB network.
Most of the time, when Chan appears in the news, it is about his gambling acquisitions as he is swift to take over sites that compete with him.
However, today he has made headlines for something very different as he has purchased a 20.1 million penthouse at an auction.
Who is Joshua Chan?
Joshua Chan is an IT whiz aged 44, and while he was known as the creator of the LCB, now he is also known as the man who bought a penthouse for the price of 20. 1 million dollars.
That is a lot of money if you ask us and we are not sure if there are any online casino jackpots that could ever be that high. And even they were we know for a fact that even if you were to win it, using it all on a penthouse would not be your first choice.
However, for the IT whiz Joshua Chan, using 20.1 million to buy a penthouse seems quite normal don’t you think so. This is considering the fact that he has billions worth of dollars and the fact that his site LCB is one of the most successful online gambling sites ever created.
What’s So Special About The 20.1 Million Bid?
Considering the fact that the auction was held primarily for people who could afford that amount what makes his bid so special you might ask? Well, what makes Chan’s bid outstanding is the fact that five years ago, the same penthouse was sol sold for 9.8 million dollars. And now, having it sold for 20.1 million is over double the price of the same house.
Also, what makes it so special is that the price shows that Chan who was a nobody a few years has taken great strides to be where he is today. The price of the penthouse is not all about money, but also about the story of hard work and perseverance and the results of doing what you love a swell as loving what you do.
What is LCB?
Joshua Chan was born in Sydney and in 2015 he started an online gambling review site. The site was started after he had studied IT and had been working for his brother’s company for several years.
The site, LCB stands for Latest Casino Bonuses was launched as a simple 5-page site but has seen rapid growth over the years.
Throughout its years, the site has swallowed up several other online casino review giants like Wizard of Odds and World Casino Directory. By so doing, LCB now stands as one of the biggest online gambling affiliate networks.
How was LCB Started?
One would think to start an online gambling review site you would have to actually have had careful thought about it. But that was not the case for Mr Chan. He admits that he started the site in 2006 after he had bought a house and he needed to get money to help pay off his mortgage.
However, within just a few months, the site was making a lot more than his actual job and it was only then that he decided to focus on it.
Was Reading Books the Key To Success?
Many assume that in order to make it out there, in the world, you would have to read books. But Joshua Chan thinks otherwise.
When he was asked at some point to state a book that he would recommend to those who look up to him he gave the following response:
“To be honest, I don’t read books…”
What About The 20.1 Million Dollar Penthouse?
Back to the matter at hand, the 20.1 million penthouse that Chan bought recently was owned by the Mayo Hardware director and the former heavyweight champion yachtsman James Mayo. And to add to that, the apartment is one of the best penthouses located on Bondi Beach.
The Bondi-Apartment Bidding Wars
Despite the fact that Chan is the owner of the apartment, he himself was not pr
esent at the auction and had someone else bid for him.
His bidder made an opening bid of 16.8 million while the apartment was called on the market at a whopping $17 million.
The penthouse did not come easy to get as well, Chan’s bidder was at loggerheads with another agent of Deborah West of Sydney Slice. The pair exchanged 100 thousand dollar bids and then 50 thousand dollar bids before the 20.1 million bid was then won by Chan.
What About Mr Mayo?
Mayo, had bought the penthouse from the investor Vaughan Block who has been renovating it. And while he sold it 20.1 million, Mayo had his eyes set on a beachfront mansion that he bought from Michael Zammit last December for 36 million dollars.
Conclusion
What do we learn from the story of IT whiz Joshua Chan who bought a 20.1 million dollar penthouse? We learn that hard work really does pay off, even if its the world of gambling and online casino games.