News From The Casino Scene

Lui becomes Asia's second richest man

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.

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