Lui Che-woo, Hong Kong property and casino magnate of K. Wah and Galaxy, dies at age 95

Lui Che-woo, who rose from humble beginnings to become one of Asia’s biggest casino magnates, with a portfolio of hotels, resorts and property in Hong Kong and Macau, has died. He was 95.

Lui, the chairman of the K. Wah Group of companies, passed away peacefully on November 7, according to separate filings to the Hong Kong stock exchange by his companies K. Wah International and Macau casino and resort operator Galaxy Entertainment.

Lui, the founder of the group, “made invaluable contributions. His vision, tremendous leadership, and guidance were the foundations for the group’s development and continued success”, according to the statements. “Under [his] stewardship, the company was listed on the stock exchange of Hong Kong in August 1989.”

A new chairman will be appointed “in due course”, with an announcement, according to the statements.

K. Wah will “continue to operate its business in accordance with the business strategies laid down by the board [of directors]”, according to the company’s statement.