Asian casino industry titan and founder of Hong Kong-based gaming company NagaCorp, Dr. Chen Lip Keung, died on December 8 at the age of 76 after falling ill.
The billionaire’s company operates the NagaWorld Casino Resort complex in Phnom Penh, Cambodia. The company remembered Chen fondly for his years leading the company.
“His many years of experience in entrepreneurship, business and management have been instrumental in the success of the group,” NagaCorp noted in a statement. “Under Dr. Chen’s visionary leadership, the Group has achieved remarkable growth and development after years of careful business navigation and skillful and strategic management.”
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Chen’s family was originally from China, but he was born and raised in Malaysia. His career took a circuitous path that certainly did not begin in gaming. He attended medical school at Universiti Malaysia, but while practicing as a doctor, he became interested in property development.
Eventually, his business interests took Chen to Cambodia in the 1990s, where he hoped to lead oil exploration efforts in the Gulf of Siam. However, when the country sought to find a casino, Chen sought the license.
The casino opened in 1995 and was originally on a boat moored in the Mekong River. NagaWorld moved to its current terrestrial location in 2003 and has continued to grow in size since then.
Chen’s three sons are now expected to take charge of the company. NagaCorp notes that the founder focused on “running a first-world company in a developing country.”
“In the past 25 years, the company has continuously contributed to the economic growth and social development of the country.”
Latest executive death in casino industry. Name
Other than Chen, the past few months have seen the industry lose some other key figures in the industry. Steve Norton, the first executive to run a legal casino outside of Nevada, died 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 New Jersey Casino Association and the American Gaming Association.
In October, casino owner Don Laughlin also died. The casino owner founded the city named after him in 1966 on the border between Nevada and Arizona along the Colorado River. He also played a major role in seeing the city prosper. In addition to its Riverside Casino, Laughlin now has seven other casinos.
