Asian Casino Giant Chen Lip Keong Passes AwayGambling Tycoon Founded NagaWorld Gaming Company |
|
Asian casino industry giant and founder of the Hong Kong-based NagaCorp gaming company, Dr. Chen Lip Keong, passed away on Dec. 8 at age 76 after succumbing to an illness.
The billionaire’s company operates the NagaWorld Casino Resort complex in Phnom Penh, Cambodia. The company remembered Chen fondly for his years of leadership with the company.
“His many years of entrepreneurial, business, and managerial experiences had been instrumental to the group’s success,” NagaCorp noted in a statement. “Under Dr. Chen’s visionary leadership, the group has been achieving remarkable growth and development after years of careful navigation of the business and skillful and strategic management.”
Interesting Route to Casino Success
Chen’s family was originally from China, but he was born and raised in Malaysia. His career took a circuitous route that certainly didn’t begin in gaming. He attended medical school at the University of Malaysia, but while practicing as a physician, he became interested in property development.
His business interests eventually took Chen to Cambodia in the 1990s, where he hoped to lead an effort to drill for oil in the Gulf of Siam. However, when the country sought out a casino, Chen looked to secure the license.
The casino opened in 1995 and was originally aboard a boat moored in the Mekong River. NagaWorld moved to its current land-based location in 2003 and has continued to grow in size since.
Chen’s three sons are now expected to take over the company. NagaCorp notes that the founder put an “emphasis on managing a ‘first-world company in a developing nation.’”
“In the past 25 years, the company has continuously contributed to the country’s economic growth and social development.”
Latest Casino Industry Executive Death
Beyond Chen, the last few months have seen the industry lose a few other key industry figures. Steve Norton, the first executive to run a legal casino outside Nevada, passed away in November.
Norton helped launch Resorts Casino In Atlantic City in 1978 and also helped legalize casinos in other states as well. He helped found the Casino Association of New Jersey and the American Gaming Association.
In October, casino owner Don Laughlin also passed away. The casino owner founded the city named after him in 1966 on the Nevada-Arizona border along the Colorado River. He also played a major role in seeing the city thrive. Beyond his Riverside Casino, Laughlin now boasts seven other casinos.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
