{"id":202655,"date":"2022-02-24T08:27:37","date_gmt":"2022-02-24T16:27:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=202655"},"modified":"2022-02-24T13:42:06","modified_gmt":"2022-02-24T21:42:06","slug":"hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/","title":{"rendered":"Hong Kong Casino Tycoons Not as Rich as They Used to Be — Forbes"},"content":{"rendered":"

Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry. But, collectively, their total wealth has fallen since last year.<\/p>\n

\"Lui
Lui Che Woo, the chairman of Galaxy Entertainment Group, has reason to be happy. Despite a drop in his total net worth, he’s still worth $12.8 billion, according to Forbes. (Image: South China Morning Post<\/em>)<\/figcaption><\/figure>\n

The past couple of years has been rough on the global gaming industry. COVID-19 brought the industry almost to its knees, and the uncertainty over Macau’s casino future hasn’t helped.<\/p>\n

In addition to casino shutdowns everywhere, bans on tourism continue to hurt different markets. The US is starting to see a significant recovery<\/a>, but other areas aren’t so fortunate. As a result, Forbes<\/em> indicates that the wealthiest Hong Kong citizens, many of which have ties to gambling, have witnessed a decline in their aggregate riches.<\/p>\n

Hong Kong’s Wealthiest Stay Wealthy<\/h2>\n

The top 50 in Hong Kong are worth $328 billion, a drop of $3 billion from last year. This is despite the fact that over half of those on the list saw their wealth increase.<\/p>\n

At the top of the list, making a reappearance for another year is Li Ka-Shing. The Zoom backer is worth an estimated $36 billion and saw his value drop while he retained the top spot.<\/strong><\/p>\n

Lee Shau Kee is in second place, with a fortune of $34.2 billion. These two have made their money in different areas of the real estate market.<\/p>\n

All of the top 50 spots were names that have endured year after year, except one. The founder of Crystal International, Kenneth Lo, dropped off two years ago. However, he’s back, coming in at 50 with a value of $955 million. Last year, the minimum wealth of the top 50 was $1 billion.<\/p>\n

Casino Moguls Take Significant Hits<\/h2>\n

In the gaming industry, a number of long-time heavyweights couldn’t do much to keep their values from falling. This is a direct result of the global pandemic and the changes coming to Macau. The crackdown on junkets<\/a> also plays a role.<\/p>\n

Galaxy Entertainment Group’s chairman, Lui Che Woo, and the Woo clan lost 28% of its fortune. The family is now worth $12.8 billion, according to the Forbes update.<\/strong><\/p>\n

Pansy Ho, who serves as the co-chair of MGM China, saw her wealth shrink by 17%, to $3.4 billion. One of the many daughters of casino entrepreneur Stanley Ho, who died in 2020, she is now in a legal battle with a few of the other 16 children he had. The family patriarch didn’t leave a will when he passed away.<\/p>\n

\n

The second-largest drop, by percentage, is in the fortune of Lawrence Ho. He is in charge of Melco Resorts and Melco International Development and is also Pansy Ho’s younger brother. At $1.25 billion, his current fortune is 37% less than it was a year ago.<\/p>\n<\/div>\n

There’s another name on the list that has ties to the Ho family. Angelo Leong is the fourth widow of Stanley Ho and also the largest shareholder of SJM Holdings. She lost 12% over the last 12 months and is now worth $2.9 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry. But, collectively, their total wealth has fallen since last year. The past couple of years has been rough on the global gaming industry. COVID-19 brought the industry […]<\/p>\n","protected":false},"author":64,"featured_media":202654,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,33810],"tags":[],"acf":[],"yoast_head":"\nHong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org<\/title>\n<meta name=\"description\" content=\"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org\" \/>\n<meta property=\"og:description\" content=\"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-24T16:27:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-24T21:42:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Erik Gibbs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erik Gibbs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/\",\"url\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/\",\"name\":\"Hong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg\",\"datePublished\":\"2022-02-24T16:27:37+00:00\",\"dateModified\":\"2022-02-24T21:42:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca\"},\"description\":\"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Lui Che Woo, the chairman of Galaxy Entertainment Group, has reason to be happy. Despite a drop in his total net worth, he's still worth $12.8 billion, according to Forbes. (Image: South China Morning Post)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Hong Kong Casino Tycoons Not as Rich as They Used to Be — Forbes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca\",\"name\":\"Erik Gibbs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-13-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-13-96x96.png\",\"caption\":\"Erik Gibbs\"},\"description\":\"Erik Gibbs covers global gaming news for Casino.org. His scope includes Europe, Latin America, the Caribbean and Asia. Erik has covered gaming markets in Europe and Asia for the past six years. Erik joined Casino.org in November 2021. Erik has written for numerous gambling- and a handful of industry publications has quoted casino-related media outlets over the years and. He is always excited to bring a new perspective on what's happening in the gaming space. Erik enjoys following the global gaming industry, paying particular attention to innovation and regulation. Originally from the US, Erik has spent extensive time living in various countries across the globe. He enjoys anything that has to do with the outdoors and exploration, although he readily admits that he would have no trouble spending all day fishing on a boat. He currently resides in Spain. Contact Erik at erik.gibbs@casino.org.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/erik-gibbs\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org","description":"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/","og_locale":"en_US","og_type":"article","og_title":"Hong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org","og_description":"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.","og_url":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-02-24T16:27:37+00:00","article_modified_time":"2022-02-24T21:42:06+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg","type":"image\/jpeg"}],"author":"Erik Gibbs","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Erik Gibbs","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/","url":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/","name":"Hong Kong Casino Tycoons Not as Rich as They Used to Be -- Forbes - Casino.org","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg","datePublished":"2022-02-24T16:27:37+00:00","dateModified":"2022-02-24T21:42:06+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca"},"description":"Forbes has updated its annual list of the richest people in Hong Kong with the latest figures. A handful of these is part of the global gaming industry.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/Lui-Che-Woo.jpg","width":1200,"height":800,"caption":"Lui Che Woo, the chairman of Galaxy Entertainment Group, has reason to be happy. Despite a drop in his total net worth, he's still worth $12.8 billion, according to Forbes. (Image: South China Morning Post)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/hong-kong-casino-tycoons-not-as-rich-as-they-used-to-be-forbes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Hong Kong Casino Tycoons Not as Rich as They Used to Be — Forbes"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca","name":"Erik Gibbs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-13-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-13-96x96.png","caption":"Erik Gibbs"},"description":"Erik Gibbs covers global gaming news for Casino.org. His scope includes Europe, Latin America, the Caribbean and Asia. Erik has covered gaming markets in Europe and Asia for the past six years. Erik joined Casino.org in November 2021. Erik has written for numerous gambling- and a handful of industry publications has quoted casino-related media outlets over the years and. He is always excited to bring a new perspective on what's happening in the gaming space. Erik enjoys following the global gaming industry, paying particular attention to innovation and regulation. Originally from the US, Erik has spent extensive time living in various countries across the globe. He enjoys anything that has to do with the outdoors and exploration, although he readily admits that he would have no trouble spending all day fishing on a boat. He currently resides in Spain. Contact Erik at erik.gibbs@casino.org.","url":"https:\/\/www.casino.org\/news\/author\/erik-gibbs\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/202655"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=202655"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/202655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/202654"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=202655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=202655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=202655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}