Hong Kong Casino Billionaire with $14 Billion Fortune Dr Lui Che Woo Dies at Age 95, Founded Galaxy Entertainment Group in 2005 Which is Listed on Hong Kong Exchange with $19 Billion Market Value
13th November 2024 | Hong Kong
Hong Kong casino billionaire with $14 billion fortune Dr Lui Che Woo has died at Age 95 (7/11/24). Dr Lui Che Woo founded Galaxy Entertainment Group in 2005, which is listed on Hong Kong Exchange and has a $19 billion market value. Galaxy Entertainment Group (11/11/24): “The board of directors (the “Board”) of Galaxy Entertainment Group Limited (“GEG”, together with its subsidiaries, the “Group”) announces with great sadness that Dr. Lui Che Woo (“Dr. Lui”), the Chairman and an executive Director of GEG, passed away peacefully at the age of 95 on 7 November 2024. Dr. Lui was the founder of the Group and made invaluable contributions to the Group. His vision, tremendous leadership and guidance were the foundations for the Group’s development and continued success. Under Dr. Lui’s stewardship, GEG was the first gaming company to be listed on the Stock Exchange of Hong Kong Limited, in 2005 and has been selected as a constituent to the Hang Seng Index in 2013. GEG will continue to operate its business in accordance with the business strategies laid down by the Board. The Board is of the view that the passing away of Dr. Lui will not have any impact on the operations of the Group. A new Chairman of GEG will be appointed in due course and an announcement will be made of that appointment. The Board would like to express its deepest sorrow for the passing away of Dr. Lui and extends its deepest condolences to his family.”
“ Hong Kong Casino Billionaire with $14 Billion Fortune Dr Lui Che Woo Dies at Age 95, Founded Galaxy Entertainment Group in 2005 Which is Listed on Hong Kong Exchange with $19 Billion Market Value “
Dr. Lui Che Woo, Galaxy Entertainment Group Chairman – Dr. Lui Che Woo, GBM, MBE, JP, LLD, DSSc, DBA, the founder of the Group, has been a Director since August 1991 and is the Chairman and a member of the Executive Board. Dr. Lui is also the Chairman and the Managing Director of K. Wah International Holdings Limited. He has over 50 years’ experience in quarrying, construction materials and property development. He was the Founding Chairman of the Institute of Quarrying in the UK (Hong Kong Branch) and the Chairman of the Tung Wah Group of Hospitals (1981–1982). Dr. Lui is also the Founding Chairman of The Federation of Hong Kong Hotel Owners, the President of Tsim Sha Tsui East Property Developers Association, the Founding President of Hong Kong – Guangdong Economic Development Association and an Honorary President of the 8th Committee of Hong Kong – Shanghai Economic Development Association. Dr. Lui was appointed as a member of Steering Committee on MICE (Meetings, Incentives, Conventions and Exhibitions) from 2007 to 2019. Furthermore, Dr. Lui was a member of the 9th National Committee of the Chinese People’s Political Consultative Conference, a member of the Selection Committee for the First Government of the HKSAR and a member of the Election Committee of the HKSAR in 1996. Dr. Lui has been elected as a member of the Election Committee of the HKSAR in 2001, 2006, 2011 and 2016. In 1995, an asteroid discovered by the Purple Mountain Observatory of the Chinese Academy of Sciences was named “Lui Che Woo Star”. Dr. Lui was presented the Outstanding Contribution Award in Guangzhou in 1996. Dr. Lui was awarded the Gold Bauhinia Star by the Government of the HKSAR in July 2005. Dr. Lui was also awarded the Grand Bauhinia Medal by the Government of the HKSAR in June 2012. Dr. Lui was awarded Business Person of the Year 2007 by DHL/SCMP Hong Kong Business Awards and the Lifetime Achievement Award by American Academy of Hospitality Sciences in 2007 respectively. Dr. Lui was presented the Diamond Award by Macau Tatler and the Lifetime Achievement Award by All Leaders Publication Group Limited, both in 2011. Dr. Lui was awarded Asia Pacific Entrepreneurship Awards 2012 – Lifetime Achievement Award by Enterprise Asia in 2012 and Lifetime Achievement Award by Golden Horse Award of China Hotel in 2013. Dr. Lui was presented the Outstanding Contribution Award at the International Gaming Awards, as well as Entrepreneur of the Year at The Asian Awards in 2014. Dr. Lui was awarded the Lifetime Achievement Award and the Outstanding Leadership in Social Responsibility Award by the World Travel Awards in 2015 and 2018 respectively. In 2019, Dr. Lui was awarded as one of the 20 Persons in 20 Years: the Most Valuable Persons of Macao’s Tourism and Leisure Industry from 1999 to 2019 by the Macau University of Science and Technology. He was recognized as one of Asia’s Most Influential by Tatler Asia from 2021 to 2023. In 2024, Dr. Lui received the “Lifetime Achievement Award” at the “2023-2024 You Bring Charm to the World Award Ceremony” organized by Phoenix Satellite TV in collaboration with numerous Chinese media organisations in the country and from abroad. Dr. Lui is also the Founder and Chairman of the Board of Governors cum Prize Council of the LUI Che Woo Prize – Prize for World Civilisation which was established in Hong Kong in 2015 for promoting world civilization through sustainable development of the world, betterment of the welfare of mankind and promotion of positive life attitude and enhancement of positive energy. In addition, Dr. Lui is Honorary Trustee of Peking University, Founding Honorary Patron of The University of Hong Kong Foundation for Educational Development and Research, Member of the Board of Trustees of United College of the Chinese University of Hong Kong, Honorary Member of the Court of Hong Kong University of Science and Technology, Honorary Life Chairman of the Hong Kong Polytechnic University Foundation and Member of the Court of the Hong Kong Polytechnic University, Senior Member of the Board of Directors of Fudan University and Life Honorary Chairman of Wuyi University Board of Trustees. Dr. Lui is the father of Mr. Francis Lui Yiu Tung and Mrs. Paddy Tang Lui Wai Yu.
Galaxy Entertainment Group – Galaxy Entertainment Group Limited (“GEG” or the “Company”) and its subsidiaries (“GEG” or the “Group”) is one of the world’s leading resorts, hospitality and gaming companies. The Group primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau. GEG is listed on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index. GEG through its subsidiary, Galaxy Casino S.A., is one of the three original concessionaires in Macau when the gaming industry was liberalized in 2002. In 2022, GEG was awarded a new gaming concession valid from January 1, 2023, to December 31, 2032. GEG has a successful track record of delivering innovative, spectacular and award-winning properties, products and services, underpinned by a “World Class, Asian Heart” service philosophy, that has enabled it to consistently outperform the market in Macau. The Group operates three flagship destinations in Macau: on Cotai, Galaxy Macau™, one of the world’s largest integrated destination resorts, and the adjoining Broadway Macau™, a unique landmark entertainment and food street destination; and on the Peninsula, StarWorld Macau, an award-winning premium property. The Group has the largest development pipeline of any concessionaire in Macau. When The Next Chapter of its Cotai development is completed, GEG’s resorts footprint on Cotai will be more than 2 million square meters, making the resorts, entertainment and MICE precinct one of the largest and most diverse integrated destinations in the world. GEG also considers opportunities in the Greater Bay Area and internationally. These projects will help GEG develop and support Macau in its vision of becoming a World Centre of Tourism and Leisure. In July 2015, GEG made a strategic investment in Société Anonyme des Bains de Mer et du Cercle des Étrangers à Monaco (“Monte-Carlo SBM”), a world renowned owner and operator of iconic luxury hotels and resorts in the Principality of Monaco. GEG continues to explore a range of international development opportunities with Monte-Carlo SBM. GEG is committed to delivering world class unique experiences to its guests and building a sustainable future for the communities in which it operates. For details, please refer to the section on Corporate Social Responsibility.
K. Wah Group – Founded by Dr Lui Che-woo in 1955, K. Wah Group (“the Group”) is a multinational conglomerate principally engaged in property development and investment, entertainment and leisure resorts, hospitality, and construction materials, with market presence spanning Mainland China, Hong Kong, Macau, Southeast Asia and major cities in the world. The Group has over 200 subsidiaries, including two Hong Kong-listed flagships K. Wah International Holdings Limited (stock code: 00173) and Galaxy Entertainment Group Limited (stock code: 00027 and a member of the Hang Seng Index). Other major subsidiaries include Stanford Hotels International and K. Wah Construction Materials Limited.
Hong Kong Casino Billionaire with $14 Billion Fortune Dr Lui Che Woo Dies at Age 95, Founded Galaxy Entertainment Group in 2005 Which is Listed on Hong Kong Exchange with $19 Billion Market Value
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