Lui Che-woo death spotlights casino tycoon's succession planning

Self-made billionaire prepared more than a decade ago to divvy up his empire

20241112 Galaxy Lui Che-woo and Francis Lui.jpg

Self-made Hong Kong tycoon Lui Che-woo, left, nurtured his eldest son Francis Lui Yiu-tung, right, as his successor at flagship Macao casino operator Galaxy Entertainment Group. (Photo by Kensaku Ihara)

KENJI KAWASE, Nikkei Asia chief business news correspondent

November 12, 2024 18:31 JST

HONG KONG -- The death of Hong Kong tycoon Lui Che-woo, who built a business conglomerate sprawling from construction materials to hotels and casinos, could have raised a major succession question. The billionaire had five children, and he remained chairman of his two flagship listed companies -- K. Wah International Holdings and Galaxy Entertainment Group -- at the time of his passing at age 95.

The short answer, however, is that there is little concern, as Lui had laid out plans for his empire after his death, which he made clear more than a decade ago in May 2012.