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Hong Kong Casino Bigwigs' Net Worth Decrease: Forbes

The wealth of many Hong Kong billionaires serving as backers of Macau casino resorts has shrunk in the past 12 months, Forbes analyzed. Factors such as restrictions on travel and tourism due to COVID-19 and downward pressure on Macau casino company shares have weighed on their fortunes.

Concurrent with the previous day's announcement of a proposed change to Macau's game-law system, the total market capitalization of Hong Kong-listed companies related to Macau's six concessions had fallen by a total of 26%, or more than $18 billion, on Sept. 15. Stocks have yet to make up for all the grounds lost from the amendment.

According to Forbes' 2022 list of "Hong Kong's 50 Richest People," Chairman Luizchew's net worth at Galaxy Entertainment Group Ltd., which is listed in Hong Kong, fell to $12.8 billion from $17.8 billion a year ago.

Mr Lui, 92, is currently the richest Macau casino entrepreneur based in Hong Kong, though he has dropped from fifth place to eighth place in 2021. He also chairs Hong Kong-listed real estate developer K. Wah International Holdings Ltd.

Pansy Ho Chiu King, co-chairman of MGM China Holdings Ltd., saw his net worth fall to $3.4 billion from $4.1 billion a year ago.

She is currently ranked 28th, up from 25th in 2021. Mrs. Ho, a gaming industry mogul and the daughter of former Macau monopoly Stanley Ho Hung Sun, is also the chairman of Sun Tak Holdings Ltd., a Hong Kong-listed real estate, shipping, and accommodation conglomerate. The latter invests in hotels and properties in Macau, and operated ferry services to and from Hong Kong before the pandemic brought most of them to a halt.

Angela Leong On Kei, co-chairman of SJM Holdings Ltd and a Macau lawmaker, came in 33rd on the most recent Forbes list. Her net worth now stands at $2.9 billion, compared to $3.3 billion a year ago. She was the fourth married couple to Stanley Ho and the mother of his youngest children.

Lawrence Ho Yau Lung, chairman and CEO of Melco Resorts and Entertainment Ltd., is ranked 46th on the Forbes list for 2022. His current net worth is $1.25 billion, down from $1.99 billion a year ago. Lawrence Ho, 45, is the son of Stanley Ho's second couple, Lucina Naam King Ying. Lawrence Ho is the brother of Pancy Ho.

Hong Kong billionaire Henry Cheng Kar Shun and his family currently remain the third richest people on the recent Forbes list, with their net worth of $26.4 billion. The Cheng family is known for its diverse portfolio of businesses and investments, from jewelry to real estate development and hospitality.

The Cheng family also supports investments in casino resort projects in Vietnam, Australia and the Bahamas.

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