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Asia Casino News outlet for Online Gaming and Gambling Industry in Asia.

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Asia’s Top 5 Richest Casino Owners

May 29, 2023 Asia Casino & Hotel

On the Asian continent, there are several different gambling and casino laws.

While some nations vehemently oppose gambling, others proudly promote their amazing casino complexes.

Asia has a vast population, and because of this, there is a huge need for casinos throughout the continent.

As a result, the few places that permit and support casinos, like Macau, have grown tremendously popular and draw millions of gamblers each year.

As a result of Asia’s strong demand and limited supply for casinos, those who own them amass enormous money and influence.

whereby they have combined to make Asia’s gaming market the largest in the world.

1.Lui Che Woo – $12.4 Billion

The first time Lui Che Woo became wealthy, he launched K. Wah Group was a Hong Kong-based quarry owner that specialized in bringing construction machinery from Okinawa.

Eventually, the K. Wah Group was expanded to encompass real estate projects distributed throughout Southeast Asia.

One of the three gaming concessions for the island went to Woo’s entertainment business, Galaxy Entertainment Group after Stanley Ho’s monopoly on the gambling industry in Macau expired in 2002.

He built The StarWorld Macau Casino and Hotel right away after receiving his concession, and it opened its doors in 2006. The colorful and stunning decor of the 5-star hotel and casino is well-known.

Woo built his flagship casino, Galaxy Macau, for $1.9 billion in 2011, following the StarWorld.

Woo has dominated Macau’s casino sector thanks in part to this world-class resort; in 2016, Galaxy Entertainment Group surpassed Sheldon Adelson’s Sands China as the city’s largest casino and gaming operator, claiming 23% of the market.

In large part, Woo, who is 93 years old, has delegated management of his vast business empire to his five children, with his eldest son Francis in charge of Galaxy Entertainment Group.

2.Stanley Ho – $6.4 Billion

One of the most well-known casino owners Asia has ever seen is Stanley Ho.

He was the founder and chairman of SJM Holdings, which enjoyed a 40-year government-granted monopoly on Macau’s gaming industry and was known as “The Godfather” and “The King of Gambling” simultaneously.

During this time, Ho assisted in transforming Macau from a little fishing island into one of the most recognizable gaming hubs in the entire world.

Ho has constructed a lot of casinos over the course of his life, including the magnificent Grand Lisboa, which is the tallest structure in Macau.

Throughout his career, he showed his aptitude as a businessman by coming up with a variety of strategies to draw potential gamblers to Macau.

His plan to construct a harbor and hire a fleet of fast boats to transport gamblers from adjacent Hong Kong to Macau is possibly his most well-known invention.

Some others thought that Ho’s fortune was not totally lawful, though.

He was continuously accused of having ties to Triad organizations like 14K and Sun Yee On.

At the age of 96, Ho retired and passed away two years later.

Ho left behind a family of 17 children and four women, who shared his business empire and money.

Pansy Ho, the most successful of his offspring, is a shareholder in both MGM China and SJM Holdings.

With the help of Stanley Ho’s casino business and her own real estate assets, Angela Leong, Stanley Ho’s fourth wife, has amassed a $2.7 billion fortune and serves as managing director of SJM assets.

3.Pansy Ho – $3.2 Billion

Despite being the daughter of Stanley Ho, the largest name in Macau’s casino industry, Pansy did not always work in the industry.

Instead, she originally pursued a career as an actress before founding the wildly popular Occasions PR firm.

Ho is now heavily involved in Macau’s gambling industry. After the firm sought to extend its investment in MGM China, she acquired shares in the dominant casino operator MGM Resorts.

She has often sold these shares for enormous sums of money. She made $86 million from the sales of the MGM Resorts stock over two days in May 2021.

Ho owns sizable stakes in SJM Holdings, a company founded by her late father, and MGM China, which operates two integrated resorts in Macau.

She also holds a managing director position at MGM Grand Paradise, which pays her over $8 million a year and owns about a third of the 600-room MGM Macau casino complex.

4.Chen Lip Keong – $2.4 Billion

Chen Lip Keong is the 7th richest person in Malaysia with a net worth of $2.4 billion.

Keong first went to Cambodia in search of oil, where he later made his money.

Even if his search for black gold was unsuccessful, Keong did not leave the country without anything.

Instead, in 1994, his Malaysian company, NagaCorp, was awarded a chance to promote international travel.

As a result, Keong received a casino license for Cambodia, a 70-year contract, and a monopoly in the country’s capital, Phnom Penh, that was guaranteed by the government.

Keong has been able to turn the capital of Cambodia into a popular gambling resort because of this monopoly, which will endure until 2035.

The only luxury casino-hotel complex in Cambodia, NagaWorld, is his flagship integrated resort and features many casinos, gaming spaces, and additional complexes that are connected by underground tunnels and passages.

NagaWorld 2, an entertainment complex with a 300-table gaming facility, gaming suites, and premium gaming halls, is the newest of these.

Keong was frustrated by the interest rates that the banks were offering him when he tried to borrow money to develop the Naga2 extension.

Therefore, he paid $369 million out of his own pocket and accepted firm shares in exchange for payment for the building instead of borrowing the money.

Another expansion is now taking place in NagaWorld. The $3.5 billion Naga3 project, which will include a 75-story hotel tower, is planned to debut in 2025.

5.Lim Kok Thay – $2.2 Billion

In 1965, Lim Goh Tong started Genting Group. Through the creation, promotion, and management of international integrated resorts, he gradually expanded his empire.

The second child of Tong, Lim Kok Thay, currently serves as the company’s chairman after being named a director in 1976.

Casinos owned by Genting Group can be found all over the world, notably in the Philippines, Singapore, Malaysia, and the UK.

In addition to owning Star Cruises, the corporation is well-known for its palm oil plantations.

On many of the ships, including the Genting Dream, there were casinos.

The parent business of Star Cruises, Genting Hong Kong, filed for liquidation in January 2022 due to problems brought on by the coronavirus pandemic.

Four of the ships it had ordered, totaling more than 150,000 tons in weight, were left at the docks.

They, though, have not let this setback worry him.
He recently launched Resort World Cruises which now operates Genting Dream, and is in talks to acquire the other ships that were previously owned by Star Cruises.

In an effort to enter the lucrative Macau gaming market, he has also filed an unlikely petition for a license.

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