Billionaire Adrian Portelli is leaving Australia for good – as he takes aim at ‘controlling’ Albanese government
Australian billionaire Adrian Portelli, best known as The Block's "Lambo Guy", has relocated with his family to Dubai, declaring Australia "genuinely finished" under the current government and media. The move follows weeks of speculation after proposed federal gambling reforms threatened the legality of his popular subscription-based prize draw business, LMCT+, though Portelli insists the relocation was planned three years in advance and not a response to the legislation.
In social media posts, Portelli criticised Prime Minister Anthony Albanese's government, praised Dubai's tax-free status, safety and education, and suggested he had considered entering Australian politics to hold leaders accountable. He also took aim at Australian living costs, highlighting cheaper Australian beef purchased in Dubai. The proposed gambling law, released in June, would outlaw lottery-style subscription schemes such as LMCT+, which offers cars and luxury experiences to paying members. Portelli has recently expanded his Melbourne business interests, opening a discount petrol station and announcing plans for a supermarket for LMCT+ subscribers.
- Billionaire Adrian Portelli relocates his family from Australia to Dubai
- He blames the Albanese government and criticises Australian living costs
- Move follows threat to his LMCT+ lottery business from gambling law reforms
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Adrian Portelli is an Australian businessman known for appearing on the renovation show The Block and for running LMCT+, a paid membership scheme that offers prize draws for cars and other rewards. The scheme’s lottery-style draws have come under scrutiny as the federal government considers changes to gambling laws.
Prime Minister Anthony Albanese leads the federal government, which sets national policy and introduces laws for Parliament to consider. The proposed changes could affect how subscription-based prize draws operate, while debates about tax, living costs and regulation shape wider discussion about doing business in Australia.
Portelli has also invested in businesses in Melbourne, including a discount petrol station. His move to Dubai has drawn attention to the choices wealthy business owners make about where to live and operate, and to how government rules can affect commercial ventures.
Both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Portelli's criticisms of regulatory overreach merit consideration. His business operated legally under existing law, and retrospective regulations eliminating established enterprises create investor uncertainty and discourage business confidence. His relocation to a jurisdiction with more favourable regulatory and tax conditions reflects rational economic decision-making, and his concerns about Australia's regulatory burden and cost of living resonate with broader business community frustrations about compliance costs.
The case against
The proposed gambling reforms address legitimate consumer protection concerns about subscription lottery schemes and represent standard regulatory governance in democracies. Such interventions appropriately balance entrepreneurial freedom with public interest protections. Portelli's relocation appears primarily motivated by tax optimisation rather than principle, and characterising consumer protection regulations as governmental control mischaracterises the normal and necessary regulatory role in protecting market participants.