Lui Che-woo, who rose from humble beginnings to become one of Asia’s biggest casino magnates with a portfolio of hotels, resorts and real estate in Hong Kong and Macau, has died. He was 95.
Lui, the chairman of the K. Wah Group of Companies, died peacefully on November 7, according to separate filings with the Hong Kong Stock Exchange by his companies K. Wah International and Macau casino and resort operator Galaxy Entertainment.
Lui, the group’s founder, “made invaluable contributions. His vision, great leadership and guidance provided the foundation for the group’s development and continued success,” the statements said. “Under (his) leadership, the company was listed on the Hong Kong Stock Exchange in August 1989.”
A new chairman will be appointed “in due course”, with notice, according to the statements.
(L-R) Galaxy Entertainment Group Vice Chairman Francis Lui, Chairman Lui Che-woo and President Michael Mecca during the company’s annual results announcement in Hong Kong on February 28, 2018. Photo: Reuters
K. Wah will “continue to conduct its business in accordance with the business strategies established by the board of directors,” the company statement said.
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