This story is part of Forbes’ coverage of Hong Kong’s Richest 2025. See the full list here.
A month after casino mogul Lui Che Woo died in November at age 95, his eldest son Francis Lui stepped up from his long-standing position as vice chairman to become chairman of Galaxy Entertainment Group. Francis is betting on continuity as he broadens the Macau casino operator beyond gambling, in line with a government strategy to diversify the economy.
Macau’s gaming revenue, which accounts for more than a third of GDP, rose 24% in 2024 to 227 billion patacas ($28 billion) but remained below pre-pandemic levels.
Galaxy has three resorts in the gambling hot spot, including Galaxy Macau, which it is expanding to add more hotels as well as family-focused attractions such as a 4,000-seat theater and a water park. Adjusted Ebitda climbed 6% in the third quarter to HK$2.9 billion ($372 million) on an 11% rise in net revenue to HK$10.7 billion, roughly 15% of which came from non-gaming.
Its Hong Kong-listed shares slumped 31% on year, partly reflecting a crackdown by Beijing on high rollers to curb capital outflows. Lui shares a $9.4 billion fortune with his family, including four siblings, who also work in the business.
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