Malaysian casino tycoon Chen Lip Keong, founder of Hong Kong-listed casino operator NagaCorp passed away at age 76 on December 8 after succumbing to an illness, as per a company statement. The billionaire had a net worth of $1.3 billion at the time of his death.
The company statement paid tribute to its late founder: “His many years of entrepreneurial, business and managerial experiences had been instrumental to the group’s success. 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.”
NagaCorp owns and operates NagaWorld, a casino-resort complex in the Cambodian capital of Phnom Penh, where it currently holds a casino license running to 2065, with a guaranteed monopoly to 2035.
