Galaxy Entertainment Casino Empire Reigns Handed to Hong Kong Billionaire Francis Lui

Posted on: February 14, 2025, 10:58h. 

Last updated on: February 14, 2025, 12:30h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Dr. Lui Che Woo died in November
  • Before his death, Lui established a succession plan
  • Lui’s empire has been handed over to his eldest son, Francis

The reigns of Galaxy Entertainment Group, one of the world’s largest resort and gaming operators that holds one of the six coveted casino licenses in China’s Macau, has a new controlling stakeholder.

Galaxy Entertainment Macau Francis Lui
Hong Kong billionaire Francis Lui is the new controlling stakeholder of Galaxy Entertainment and the K. Wah Group. Lui inherited the empire after his father, Lui Che Woo, died in November. (Image: Macau News)

Last November, Dr. Lui Che Woo, the founder and longtime chairman and CEO of Galaxy, died at the age of 95. The Chinese-born Hong Kong tycoon’s business empire additionally included K. Wah Group, a conglomerate invested in construction materials and real estate that has over 200 subsidiaries, including K. Wah International Holdings, Stanford Hotels, and K. Wah Construction.

Lui’s death left behind one of the richest fortunes in Asia. But unlike many billionaires in other parts of the world, Hong Kong’s elite are known for establishing thoughtfully designed succession plans. That was the case with Lui, Bloomberg reports.

The business media outlet said Friday that Francis Lui, 69, the eldest of the late Lui’s five children, has gained the majority of the K. Wah Group and Galaxy shares his father held. The stock is reportedly valued at around $1.6 billion.

Succession Plans

Bloomberg reports that Lui’s legacy plan was drafted many years ago, as is common with Hong Kong’s wealthiest magnates.

Francis gaining control of the organization comes nearly a half-century after he joined the hospitality, real estate, and gaming empire in 1979. With life expectancy in Hong Kong growing from about 75 in 1980 to almost 84 years today, succession plans are being put on hold for longer than they previously were.

Many of the second generations are already in their 60s,” said Jeremy Cheng, adjunct assistant professor at the Chinese University of Hong Kong.

Lui’s succession was reportedly finalized in 2012. Though Francis has gained control and is now the patriarch of the fortune, K. Wah and Galaxy remain a family affair.

Francis’ sister, Paddy, Lui’s eldest daughter, is an executive director of Galaxy and K. Wah International. Brothers Alexander and Lawrence, and youngest sister Eileen, additionally hold executive positions within the enterprise.

Francis’ daughter, Joanna, is an executive director of the Galaxy Entertainment Group Foundation, which is focused on “nurturing young people … through philanthropic initiatives.” 

Galaxy Portfolio

After Macau was handed back to China from Portugal and the enclave expanded its gaming market three years later, Lui bid and won one of the gaming concessions. Lui’s Galaxy secured a license amid 18 bids from around the world.

Galaxy opened its first casino in the Chinese Special Administrative Region in 2006 — StarWorld — in the downtown area. Galaxy opened the first phase of its multibillion-dollar Galaxy Macau integrated resort on the extravagant, affluent-focused Cotai Strip in May 2011.

Two additional expansion phases have since debuted in May 2015 and December 2023. Today, Galaxy Macau is among the world’s largest casino destinations with eight hotels, 5,000 rooms, and a gaming floor spanning approximately 400K square feet with hundreds of table games and thousands of slot machines.

Galaxy additionally operates the nongaming Broadway Macau on the Cotai Strip. The 314-room boutique hotel is an entertainment and culinary destination featuring 40 dining options and a 2,500-seat theater.