In November 2020, Cambodian lawmakers approved a plan to change how casinos paid their taxes in an effort to deliver more money to the state. That plan is
Two casino entrepreneurs have slipped down the top 20 in Forbes’ “2021 Malaysia’s 50 Richest” list, amid the Covid-19 pandemic.
At number nine – down from four in 2020 – now with an estimated net worth of US$3.4 billion, is Chen Lip Keong (pictured, left), chief executive of Hong Kong-listed NagaCorp Ltd, which has a casino monopoly in the Cambodian capital Phnom Penh, and is also developing a venue in Vladivostok, Russia.
Mr Chen’s 2021 net worth is down 35.8 percent on the estimated US$5.3 billion he held last year.
At number 11 this year, down from seven, and with an estimated net worth this year of US$2.55 billion, is Lim Kok Thay, chairman of conglomerate Genting Bhd.