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Casino tycoons net worth plummets

Several billionaires linked to Macau’s gaming industry have slipped in the latest wealth rankings from U.S.- based magazine Forbes

 

Sheldon Adelson: founder, chairman and chief executive officer of the Las Vegas Sands Corp.

 

The "Forbes" announced the ranking of the global billionaires in 2020. Sheldon Adelson the founder, chairman and chief executive officer of the Las Vegas Sands Corp ranks 28th, and although it is the only casino tycoon that can make it to the top 30, the ranking is down 4 places from last year.

Another tycoon, the chairman of Galaxy Entertainment Group Limited , Che Woo Lui, who ranked second among all gambling tycoons, has a net worth of about US $ 11.7 billion this year, a decrease of about US $ 2.9 billion from last year. The ranking has also dropped from 82nd last year to 106th this year.

As for the remaining gambling tycoons, MGM China Co-Chairman Chiu-king Ho and Philippines Bloomberry Resorts Corp Chairman Enrique Razon tied for 565th, with a net worth of approximately US $ 3.4 billion. Melco Chairman and CEO Lawrence Ho ranked 1,335 with a net worth of US $ 1.6 billion. According to last year's ranking, Chiu-king Ho and his brother

 

Tan Sri Dr. Chen Lip Keong, CEO of NagaWorld.

 

Lawrence Ho ranked 413 and 1,008 in 2019, respectively. Chiu-king Ho was worth about US $ 4.6 billion last year, and Lawrence Ho was about US $ 2.3 billion.

In addition, the founder of Wynn Resorts Limited Steve Wynn 's ranking rose to 648th from last year, and its net asset valuation also increased by approximately US $ 100 million to US $ 3.1 billion.

For other gambling companies, Tan Sri Dr. Chen Lip Keong, CEO of NagaWorld , ranked No. 437 this year, with a net asset valuation of approximately US $ 4.1 billion. Australia's "gambling king" and the major shareholder of the Australian Crown Resorts Ltd (Crown Resorts Ltd), James Packer, ranked 908th with a net worth of US $ 2.3 billion. Malaysian Genting Group Chairman Lim Kok Thay ranked No. 1,063, with a net asset valuation of about US $ 2 billion.

 

 

According to "Forbes" data, as of March 18 this year, there are 2,095 global billionaires with a net worth of more than 1 billion US dollars, which is 58 fewer than 2,153 last year. The total value of the richest assets on the list this year is roughly estimated at 8 trillion US dollars, about 700 billion US dollars less than in 2019.

Among them, 51% of the rich have a shrinking net worth, reflecting the widespread spread of the COVID-19 epidemic in the world, which has a certain impact on the global stock market.

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In order to bring key players of global iGaming and emerging tech sectors together, SiGMA Group will host an online conference in partnership with ICE Asia, taking place on June 8-10th, 2020. Register for free here. SiGMA Manila will be now held on the 27th and 28th of May 2021. To become a part of the fastest paced Asian iGaming event, book a pass or sponsor & exhibit here. SiGMA Group will also bring together operators, suppliers, and affiliates, facilitating new business opportunities for both existing and emerging markets at their signature show happening in Malta on November 17-19th, 2020. Book a pass or sponsor and exhibit for SiGMA Malta now.

For those planning to attend the summits this is the buzzing business environment to be expected:

 

 

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