Casino Boss Chen, Lim, Slip Malaysia’s 50 Rich

In the midst of the COVID-19 pandemic, two casino entrepreneurs ranked in the top 20 in Forbes’ “2021 Malaysia’s 50 Richest People.”

Chen Lip Keong (pictured, left), chief executive of Hong Kong-listed NagaCorp Ltd, which fell from fourth to ninth in 2020, now has an estimated net worth of $3.4 billion and has a casino monopoly in Cambodia’s capital Phnom Penh, is developing a venue in Vladivostok, Russia.

Mr Chen’s net worth in 2021 was down 35.8% from the estimated $5.3 billion he held last year.

Chairman Im Kok-tei of conglomerate Genting Bhd fell to 11th place from 7th this year, with a net worth estimated at $2.55 billion this year.

Lim’s net worth in 2021 fell 20.3% to $3.2 billion he held last year.

Genting Brands has casino operations worldwide, including Malaysia, Singapore, the United Kingdom, the United States, the Bahamas, and Egypt, as well as casino cruises through its network of related companies. The group is also a casino license contender in Yokohama, Japan.

Both have seen their wealth decline this year, with their respective casino operations temporarily closed in the case of Genting beyond Asia Pacific and the region due to the COVID-19 pandemic.

Nagakov’s Nagarwold complex in Cambodia has been closed since the end of the first quarter amid a COVID-19 case in Phnom Penh.

Casino at Resorts World Genting, a flagship resort of Genting Malaysia Inc near Kuala Lumpur, has been temporarily closed since May 24 due to so-called movement control orders issued by the Malaysian government to deal with the spread of COVID-19.

The entire complex has been temporarily closed since Monday (31 May).

Overall, businessmen on Forbes Malaysia’s rich list in 2021 have seen their collective wealth rebound after two years of decline, with a 14% increase to nearly $90 billion this year, the outlet said.

BY: 파워볼사이트

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