Lui becomes Asia’s second richest man

Lui Che-Woo, the founder of Galaxy Entertainment Group, has seen his wealth increase by over $10 billion so far this year, including a $1 billion jump in just one day, yesterday. All this while Macau as a whole registers record breaking revenues.

According to the Bloomberg Billionaire’s Index, the new net worth of Lui reaches $22.1 billion, making him the second richest man in Asia. As of the time of writing, only Mark Zuckerberg (Facebook) and Ingvar Kamprad (IKEA) had made more money during 2013.

Lui, now 84 years old, has in his posession one of the six licenses for real money gambling in Macau and is competing against other casino moguls like Steve Wynn, Sheldon Adelson, Stanley Ho and James Packer. Macau has seen an influx of travellers from China’s central and northern provinces and there seems to be no end to the constant economic growth of the city. More visitors from more distant areas are visiting the Asian gambling mecca to spend their wealth in the city’s casino complexes.

Recent Posts

UK Gambling Commission issues a £6m fine to online operator Casumo

The UK Gambling Commission has issued a £6m (EUR 7.0m / USD 8.2m) penalty to online operator Casumo for severe…

3 weeks ago

Dutch Remote Gambling Act comes into force April 1

The Dutch Gambling Authority (Kansspelautoriteit/Ksa) expects that by October 1 this year, roughly 6 months from the enactment of the…

4 weeks ago

888 Holdings report a staggering 52% increase in revenue during 2020

Amidst a global pandemic, 888 Holdings has reported a staggering 52% increase in revenue during full-year 2020 to $849.7 million…

4 weeks ago

Playtech and Flutter shake hands on another 5 years

Playtech, a leading global gambling technology company, have announced the extension of their partnership with Flutter Entertainment for its Paddy…

4 weeks ago

Will FUN Token be on solid ground in iGaming?, a large online (crypto) casino is ambitious and is looking to turn the FunFair (FUN)Token into the token of…

1 month ago

Has Swedish regulation failed?

Gustaf Hagman strongly believes so. In a recent interview with Gambling Insider, the LeoVegas Chief Executive Officer expressed his concern…

2 months ago