Hong Kong tycoon Lui Che Woo (pic), whose fortune grew alongside neighbouring Macau’s casino industry, has died. He was 95.
He died on Nov 7, according to a statement released by Galaxy Entertainment Group Ltd, where he was founder and chairman.
“His vision, tremendous leadership and guidance were the foundations for the group’s development and continued success,” the company’s board said in the statement.
Lui had an estimated net worth of US$14.5bil (RM63.9bil), according to the Bloomberg Billionaires Index, making him one of the richest people in Hong Kong.
He built his empire in what became the world’s biggest gambling hub from scratch, competing with industry veterans including Steve Wynn and Sheldon Adelson. He won a gaming license in 2002 when the former Portuguese colony’s government ended a 40-year monopoly held by Stanley Ho, the so-called King of Gambling, who died in 2020.
Lui started his first resort, StarWorld Macau, in 2006 before opening the Galaxy Macau in the Cotai area, Asia’s version of the Las Vegas Strip, in 2011.
“Don’t just think, ‘Oh, he’s got so rich!’ You don’t know how many obstacles he’s had to go through,” Lui said in an interview that year with Hong Kong’s Phoenix Television.
In 1952, Lui married Lui Chiu Kam-ping, who kept a low profile, and the couple had five children. — Bloomberg
