Lui Che Woo, the influential Hong Kong tycoon behind Galaxy Entertainment Group, has passed away at the age of 95. His death was confirmed by the company he founded and chaired, which paid tribute to his legacy in a statement: “His vision, tremendous leadership and guidance were the foundations for the group’s development and continued success.”
With an estimated net worth of $14.5 billion, Woo was a central figure in the development of Macau into the world’s largest casino hub. His rise to wealth mirrored the growth of the region’s gaming industry, where he competed with established figures such as Steve Wynn and Sheldon Adelson.
Born in 1929 in Jiangmen, Guangdong, Woo’s early years were shaped by hardship. His family fled to Hong Kong during the Japanese invasion in 1941, but their wealth was lost during the war. At the age of 13, Woo began working to support his family, eventually entering the construction industry after World War II.
His business acumen led to the founding of K Wah Group in 1955, initially focused on construction materials. Over time, he expanded into real estate and hospitality, building Hong Kong’s InterContinental Grand Stanford Hotel in the late 1970s, which would become a flagship property for his group.
Woo’s breakthrough into the gaming industry came in 2002 when he secured a gaming license in Macau following the end of Stanley Ho’s monopoly. His first casino, StarWorld Macau, opened in 2006, and in 2011, he launched the expansive Galaxy Macau resort on the Cotai Strip. This venture marked a departure from traditional Western-style casinos, as Woo emphasized catering to Asian tastes and preferences, with features like Chinese cuisine and navigable layouts.
Despite early challenges and intense competition, Woo’s casinos thrived as the number of Chinese gamblers flocking to Macau soared. By 2013, Macau had become the world’s largest gambling market, with casino revenues seven times higher than those of Las Vegas. However, the industry suffered during the COVID-19 pandemic as China imposed travel restrictions that severely impacted tourism to Macau.
Beyond his business success, Woo was known for his philanthropic efforts. In 2015, he established a major prize for world civilization, designed to honor contributions to sustainable development and human welfare. The prize offered a cash award of HK$20 million, double that of the Nobel Peace Prize. Past recipients included The Nature Conservancy, the International Paralympic Committee, and former U.S. President Jimmy Carter.