Asia’s Second Richest Man Building New Macau Casino and Resort

84-year-old casino magnate Liu Che-woo, Asia’s second richest man, got the green-light on a proposal to expand his empire and build a multi-billion dollar resort on the island neighboring Macau's casino island. (Hong Kong Epoch Times)
84-year-old casino magnate Liu Che-woo, Asia’s second richest man, got the green-light on a proposal to expand his empire and build a multi-billion dollar resort on the island neighboring Macau's casino island. (Hong Kong Epoch Times)

Lui Che-woo whose net worth is $22.4 billion, is Asia’s second richest man after Hong Kong real-estate tycoon Li Ka-shing, according to the Bloomberg Billionaires Index in Jan. 2014. Liu, the Macau casino magnate, founded Galaxy Entertainment Group Ltd.

According to Bloomberg’s March report, “at Galaxy Macau, the biggest of six casinos controlled by the company, VIP turnover, or bets by high-stakes gamblers, rose 11 percent to HK$774.1 billion in 2013.”

On March 19, Galaxy announced it’s been given the green-light on its proposal to build a multi-billion dollar resort on the island neighboring Macau’s casino island Cotai, China’s answer to the Las Vegas Strip. Although the neighboring island Henqin is not a gaming zone, since it is connected to Cotai Island by a bridge, it’s prime property for resorts.

macau casino

Lui Che-woo whose net worth is $22.4 billion, is Asia’s second richest man after Hong Kong real-estate tycoon Li Ka-shing. (Hong Kong Epoch Times)

The octogenarian billionaire shares many similarities with Asia’s number one richest man, Li Ka-shing, who has a $29.5 billion fortune, and is also in his 80s. Both Liu and Li worked their way up from rags-to-riches.

Liu fled Mainland China to Hong Kong during World War II when he was 5, and as a teen had to work to help support his family. Mainland born Li, whose father died when he was a boy, also had to quit school as a teen to go and work to support his family.

Both Liu’s son Francis Liu and Li’s son Victor Li are heavily involved in the running of their empires—both sons are being groomed to take over from their fathers when the time comes.

macau casino

The octogenarian billionaire shares many similarities with Asia’s number one richest man, Li Ka-shing, who has a $29.5 billion fortune, and is also in his 80s. Both Liu and Li worked their way up from rags-to-riches. (Hong Kong Epoch Times)

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