HONG KONG, Nov 12 (Reuters) - Lui Che Woo, the casino
tycoon who helped propel Macau to eclipse rival Las Vegas in
gambling revenues, has died at the age of 95, his company said
in a statement late on Monday.
Lui, chairman of Macau casino company Galaxy Entertainment ( GXYEF )
, died in Hong Kong on Nov. 7, it said, adding that his
"vision, tremendous leadership and guidance" were the foundation
for the group's development and continued success.
Also the chairman of K. Wah Group, a Hong Kong-listed
company focused on construction and quarry mining before turning
to property, Lui was widely recognised in both Hong Kong and
Macau as an influential businessman with close ties to the
Chinese government.
One of Hong Kong's richest men, Lui kept a low profile and
was always seen wearing a flat cap as he went about the city and
when he attended press conferences.
A member of China's national advisory body, the Chinese
People's Political Consultative Conference, Lui had close ties
to Beijing and was part of a business delegation that met with
President Xi Jinping in 2014 in China's capital.
Galaxy Entertainment ( GXYEF ) holds one of six coveted gaming
licenses that were granted after Macau liberalised the casino
industry in 2002.
Competing with rivals like the now deceased Stanley Ho,
whose family runs the SJM Holdings casino empire, the
late U.S. billionaire Sheldon Adelson and Wynn Resorts ( WYNN )
founder Steve Wynn, Lui steered Galaxy to become of Macau's top
operators.
It operates several large casino resorts in Macau, both on
the Las Vegas-style Cotai strip and on the teeming main
peninsula.
EARLY LIFE
Born on Aug. 9, 1929, in Jiangmen city located in China's
southern province of Guangdong, Lui moved to Hong Kong with his
family aged 4. During Japan's occupation of the territory in the
1940s, Lui started working in a food manufacturing and
distribution business at the age of 13.
He then went on to start businesses in car parts, heavy
machinery, quarrying and construction materials, according to
his 2017 biography.
In the 1960s, he switched to property investments and added
hotels to his portfolio of businesses in the 1980s.
His company K. Wah ( KWHAF ) has over 200 subsidiaries globally,
including in mainland China, Hong Kong, Macau and southeast
Asia.
A prominent philanthropist, Lui supported the development of
medical care, education and information technology.
He also offered an annual cash award of HK$20 million
($2.57 million) to individuals or organisations who "unselfishly
promoted world civilisation through sustainable development,
contributions to the welfare of mankind and promotion of
positive life attitude," according to K.Wah.
MACAU EMPIRE
Lui, who is survived by his wife Chiu Kam Ping and five
children, remained heavily involved in the casino industry, even
while handing much of the day to day running of Galaxy to his
son Francis.
Francis, who is Galaxy's deputy chairman, has been key in
developing the company's projects in Macau, where it owns the
most land of all the operators on the Cotai strip. Lui's other
children are also involved in various parts of the family
business around the world.
Galaxy's Macau properties include large-scale resorts on
Cotai with facilities including the territory's largest indoor
arena, which was unveiled last December.
A new Galaxy chairman will be announced in "due course" the
company said, adding that Lui's death would not have any impact
on the group's operations.
($1 = 7.7756 Hong Kong dollars)