HONG KONG (Reuters) - Lui Che Woo, the casino tycoon who helped propel Macau to eclipse rival Las Vegas in gambling revenues, has died at the age of 95, his company said in a statement late on Monday.

L ui Che Woo, who founded Macau casino operator Galaxy Entertainment Group and property developer K. Wah International Holdings, has died at the age of 95. Galaxy and K. Wah, which are both listed in Hong Kong, said in regulatory filings late Monday that Lui “passed away peacefully” on November 7.

Lui Che-woo (pic), who rose from humble beginnings to become one of Asia’s biggest casino magnates, with a portfolio of hotels, resorts and property in Hong Kong and Macau, has died. He was 95.

In 1981 – two-and-a-half decades before Galaxy Entertainment, a spinoff from K. Wah, opened StarWorld, its first purpose-built Macau casino hotel – the Lui family launched the luxury InterContinental Grand Stanford Hong Kong hotel.