Billionaire Lui Gains as Probes Hit Macau Casino Rivals: Retail
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For casino billionaire Sheldon Adelson, what happens in Macau doesn’t always stay in Macau as U.S. courts probe his operations in the world’s biggest gambling hub. The scrutiny has investors favoring local rivals.
Galaxy Entertainment Group Ltd., a Macau gambling operator owned by Hong Kong property tycoon Lui Che-Woo, has surged 75 percent in Hong Kong trading in the past 12 months, more than double the 34 percent gain in Adelson’s Sands China Ltd. That helped put Lui among the world’s 100 richest for the first time yesterday, according to the Bloomberg Billionaires Index.