Mr McGrath, 54, has denied having any gambling debt.
Mr Smollen said Mr McGrath enjoyed horse racing, but he had no knowledge of whether Mr McGrath was gambling.
“I’m aware that race horses have been a hobby and a passion of John’s for some time, and I’ve never viewed that as an unhealthy thing, but I have no involvement or understanding as to whether he is gambling or not,” he said.
“If it’s true, I hope it’s resolved, and if it’s not true, I hope it’s resolved.”
Mr McGrath is known to be passionate about horses and racing, but the notoriously private real-estate figure uses the Joy Luck Syndicate and the Joy Luck Discretionary Trust to hold ownership of his breeding and racing concerns.
Among his current racing stable is the colt…
Read the full article at: https://www.smh.com.au/business/companies/mcgrath-gambling-questions-should-be-resolved-investor-20180205-p4yzg6.html
