Head of Galaxy Entertainment Considering US Expansion
Asia’s second-richest person, Lui Che-woo, made his fortune by setting up a casino operator, now the 84-year-old has said that he has only really just began.The chairman of Galaxy Entertainment also owns 13 hotels in the US including seven Hiltons. In a recent interview he said, “What can I do if I retire, watch the sun rise and set? I want to do something meaningful. I don’t want to just sit there waiting to die.”
Lui is planning to expand his business beyond Macau and has said that he is interested in purchasing US casinos.
In the meantime Galaxy is about to spend $10 billion to expand its gambling resort in Macau, the company may also invest in nearby Hengqin Island.
Galaxy operates six of the thirty-five casinos in Macau. The company saw a six-fold increase in net income in the three years to 2012 and is now hoping to repeat this success outside of Macau.
Lui said, “We’d love to expand, especially after our resorts that combine casino, entertainment shows, arts and shopping have proved to be successful.”