Lui Che Woo, the founder, chairman and an executive director of the Galaxy Entertainment Group (GEG), has died. According to a statement from Galaxy’s board of directors, the property and casino tycoon passed away on 7 November. He was 95.
“His vision, tremendous leadership and guidance were the foundations for the group’s development and continued success,” the board said, noting that under his stewardship “GEG was the first gaming company to be listed on the Stock Exchange of Hong Kong Limited, in 2005 and has been selected as a constituent to the Hang Seng Index in 2013.”
The board added that Lui’s passing “will not have any impact on the operations of the group” and said that a new chairman “will be appointed in due course and an announcement will be made of that appointment.”
At the time of writing, GEG’s corporate website and its social media channels were in black and white, as a mark of respect. “The board would like to express its deepest sorrow for the passing away of Dr. Lui and extends its deepest condolences to his family,” the statement said.
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One of Hong Kong’s wealthiest entrepreneurs, Lui established the K. Wah Group of property companies in 1955, originally focusing on the construction materials sector before diversifying into real estate development.
His fortune was valued at approximately US$12.1 billion, placing him seventh among Hong Kong’s ten wealthiest residents last year, according to Forbes. A significant turning point in his career occurred when Macao opened its gaming market in 2002 and GEG became one of the first operators to receive a gaming licence.
In 2015, Lui founded the Lui Che Woo Prize for World Civilisation. The annual cash award of HK$20 million (US$2.6 million) went to efforts to promote sustainability, societal improvement, and “positive energy.”
Lui marked his 95th birthday with a gala dinner in late September, featuring performances by veteran pop singer George Lam and renowned Hong Kong tenor Warren Mok. “Reaching 95 this year, I am thankful for the blessings I have received, enabling me to have a home filled with children and grandchildren and a life rich in fulfilment,” he said at the time.
