Gambling mogul Lui Che Woo more than doubled his wealth last year.
Macau casino mogul Lui Che Woo more than doubled his wealth last year, making him the biggest gainer on Bloomberg's list of richest billionaire - and proving just how big the gambling industry has become.
Gambling gains
Galaxy Entertainment founder and chairman Lui came in 82nd overall on the Bloomberg Billionaires list, expanding his worth by 102 percent to $11.8 billion, on the back of a number of smart investments that saw his stock rise nearly 110% and his reputation rise simultaneously.
But Lui isn't resting on his laurels either. He recently announced a plan to invest at least $6.5 billion in his Macau resorts in 2013, in order to expand them and make them more attractive to tourists from Mainland China - who have been flocking to the Vegas of Asia for years now.
Targeting the average gambler
Where Galaxy Entertainment differs from the traditional Macau casino is that instead of targeting the high-stakes player, it is aiming for the growing Chinese middle class. Liu himself is a mahjong player, and knows just how popular all forms of gambling are in Chinese culture.
With tens of millions joining the burgeoning Chinese middle class every month, this is one gamble that is sure to pay off. Who knows? Maybe once Macau is saturated with Chinese gambling enthusiasts, the next step for the region will be an explosion in online gambling?
Tags
macau
Blackjack
Slots
Roulette
Baccarat
Craps
Poker
