Chinese Casino Billionaire Doubles Wealth In 2012

Chinese Casino Billionaire Doubles Wealth In 2012In 2012, Chinese casino magnate Lui Che Woo became the biggest gainer on Bloomberg’s rich list after a year in which his fortune more than doubled to $11.8 billionaire. The Galaxy Entertainment founder is now the 82nd richest billionaires on the planet.
The 83 year was originally a pioneer in Hong Kong’s construction industry before diversifying into property investments in the 1960’s and hotel development in the 1980’s. By the 1990’s, Lui Che Woo further expanded his operations into Mainland China and in 2002 became one of Macau’s six gaming business concessionaries.
On May 2011, Galaxy Entertainment then opened the $2 billion Macau Galaxy casino and hotel complete with 2,200 rooms, 50 restaurants and 450 gambling tables. Furthermore, the billionaire says he now intends to invest a further $6.5 billion in his Macau businesses throughout 2013, in order to attract greater numbers of tourists from Mainland China.
Nevertheless, whereas other casino operators seem intent on appealing to the high-roller end of the market, Lui Che Woo has placed greater emphasis on attracting China’s ever expanding middle class, which already numbers tens of millions.
In addition to being fabulously wealthy, the family man with 5 children is a distinguished philanthropist, with his favorite charities revolving around medical care and education. As a result Lui Che Woo has received recognition for his good deeds over the year, including being made a Member of the Order of the British Empire (MBE) in 1982 and having an asteroid named after him in 1995.

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