Company: Galaxy Entertainment
Family Name: Lui
Given Name: Che-Woo
Profile: Lui is a now-elderly Chinese billionaire who founded both the Galaxy Entertainment Group and K. Wah International Holdings. His business empire focuses on sectors such as construction and real estate. Galaxy was one of the original concessionaires in Macau.
Galaxy Entertainment saw its results weighed down by a challenging VIP segment in the January-March 2019 period, with the high-roller focused segment falling 25% year-on-year.
The four Asia-based IR operators aiming for a license in the Japanese market—Galaxy, Melco, Genting, and Bloomberry—posted mixed results in the July-September period, even as predictions of a slowdown in the Asian gaming industry abounded.
Galaxy Entertainment Chairman Lui Che-Woo says that his firm’s bid for an IR license in Japan will focus on the non-gaming aspects of the facility, and that it will cater to a high-end market.
Galaxy Entertainment founder and Chairman Lui Che-Woo said his company has no plans to increase its 4.9 percent stake in Wynn Resorts, damping speculation it may have been planning a full takeover.