Mixed Fortunes On Forbes’ Hong Kong List For Gaming Magnates

Billionaires with gaming ambitions in Macau once again feature prominently on the 50 Richest People list in Hong Kong this year. In the review compiled by Forbes magazine, Henry Kar Shun Cheng–the Chow Tai Fook Jewellery Group’s chairman and New World Creation, who serves on the board at Macau casino operator SJM Holdings Ltd–jumped to third place this year.

Henry Cheng is up on last year’s list from 46th place, thanks says Forbes for a greater understanding of the family’s fortune inherited from their patriarch, property tycoon Cheng Yu Tung, who passed away in 2016. The listing now includes the family’s estimated collective wealth of US$ 20.7bn, of which Henry Cheng is considered the representative. The business empire of the family, by participation in ventures in Vietnam, Australia and the Bahamas, has sought to expand its casino interests in recent years.

Lui Che Woo is included in the latest list compiled by the business magazine, who is now ranked fifth-richest person in Hong Kong, a climb one spot from last year’s ranking. Mr. Lui is the founder and president of Galaxy Entertainment Group Ltd., a Macau casino operator. Forbes estimates a net worth of 15.4 billion US dollars.

Next on the list is Pansy Ho Chiu King 23rd-richest, worth US$ 4.25 billion. She is a daughter of Stanley Ho Hung Sun, a Macau casino tycoon, and the second largest investor in Macau casino operator MGM China Holdings Ltd.. She also controls a large stake in SJM Holdings, which her father founded –through third-party companies. Last year she was 20th-richest in Hong Kong, with a fortune estimated at US$ 4.62bn.

Angela Leong On Kei, fourth consort of Stanley Ho and an executive director of SJM Holdings,  to 29th this year from 24th in 2019. As SJM Holdings’ managing director and the company’s largest single shareholder, her worth is believed to be US$ 3.2 billion, down from US$ 4.2 billion in 2019.

Lawrence Ho Yau Lung, the executive who owns Asian casino operator Melco Resorts and Entertainment Ltd, has climbed one spot to 33rd in this year’s list. Mr Ho on this year’s list is worth US$ 2.5 billion, down from US$ 2.3 billion in 2019. At the age of 43 he continues to be the youngest Billionaire on the list.

Pollyanna Chu Yuet Wah, worth US$ 1.75 billion this year compared to US$ 3.3 billion in 2019, ranks 45th in the Forbes wealth table, having fallen from 28th last year. Ms Chu’s family is in the casino business by controlling the Kingston Financial Group Ltd, the investor in two so-called Macau satellite casinos: Casa Real on the peninsula of Macau and Grandview on Taipa.

The annual Forbes list is compiled using personal shareholding and financial information, stock exchanges, analysts and private databases.