US$1b-day makes Galaxy founder Asia's 2nd richest
MACAU: Galaxy Entertainment Group Ltd founder Lui Che-Woo's wealth has leaped by US$10.2 billion (RM32.38 billion) this year - and US$1 billion in just one day yesterday - as Macau draws record gaming revenue and his shares hit a new high.
Lui has a net worth of US$22.1 billion, according to the Bloomberg Billionaires Index, and is ranked as the second-richest individual in Asia, trailing Hong Kong developer Li Ka- Shing.
His fortune is now bigger than that of Lee Shau-Kee, Cheng Yu-Tung, Mukesh Ambani and Gina Rinehart; all overtaken by Lui in 2013. Only Facebook Inc's Mark Zuckerberg and Ikea founder Ingvar Kamprad have made more money this year.
The 84-year-old billionaire holds one of six gaming licences in Macau and his flagship casino Galaxy Macau competes against casinos owned by Steve Wynn, Sheldon Adelson, Stanley Ho and his son Lawrence, and James Packer.
Macau gaming revenue jumped 21.4 per cent to US$3.6 billion last month from a year ago, according to data from Macau's Gaming Bureau released yesterday. Gross gaming revenue in 2013 is expected to grow 17 per cent to US$44.5 billion from a record US$38 billion last year, said Deutsche Bank AG analyst Karen Tang.
Galaxy shares have soared 122 per cent in the past 12 months and reached a record high on Wednesday. Lui owns a 65 per cent stake in Galaxy directly and through a family trust. Bloomberg