The gambling industry in Malaysia is not only a crucial part of the national economy but also has nurtured many business magnates. These entrepreneurs, with their sharp business acumen and outstanding leadership, have achieved great success in the gambling sector and expanded their business empires to include real estate, retail, food, and telecommunications, profoundly influencing the economic landscape of Malaysia and Southeast Asia.
1.Sports Toto—Vincent Tan Chee Yioun
Vincent Tan Chee Yioun, born in Johor, Malaysia, is the founder and executive chairman of Berjaya Corp Bhd and also owns the Cardiff City Football Club in the English Premier League. His personal net worth is USD 750 million (approximately MYR 3.3 billion), making him a model entrepreneur and billionaire in Malaysia.
In December 1980, Tan acquired the McDonald's franchise in Malaysia, and in 1984, he purchased Berjaya Industrial and has used the name "Berjaya" ever since. Subsequently, he acquired the rights to operate 7-Eleven and Sports Toto in Malaysia, making Berjaya Corp one of the first privatized enterprises by the government.
Although Tan is involved in the gambling industry, his business focus is not limited to it. Sports Toto is just one of the many subsidiaries under Berjaya Corp, which also includes Berjaya Food, Berjaya Sports Toto, Berjaya Assets, Berjaya Land, 7-Eleven Malaysia Holdings, luxury car dealership H.R. Owen in the UK, and mobile telecommunications provider U Mobile Limited, among others. His business empire is not only vast but also deeply integrated into the daily lives of Malaysians.
2.Magnum Corporation—Kwek Leng Peck
Magnum Corporation was established in 1968 and is one of the main legal lottery companies in Malaysia, specializing in 4D betting. In 1970, it became the first listed lottery company in Malaysia. In 2008, after the previous owner Lin Tianjie sold his shares, Liu Jinkun took over and became the new owner of Magnum. In 2012, Liu became the managing director and in 2013, he became the non-executive chairman, gradually stepping back from the forefront.
In 2019, Surin Upatkoon and his related company Multi-Purpose Holdings Berhad (MPHB) gradually sold their shares, weakening their control over Magnum 4D. In 2022, he further reduced his shares, ultimately no longer being the largest shareholder of the company.
After the change in shareholding, Kwek Leng Peck became the new "boss" of Magnum. Kwek Leng Peck, a Hong Kong entrepreneur and former chairman of the board of Sun Hung Kai Properties, and the wife of the founder of Sun Hung Kai Properties, Guo Desheng, along with her family, have replaced Liu Jinkun as the main controllers of Magnum 4D, further consolidating the influence of the Hong Leong Group in the Malaysian gambling market.
3.Genting Group—Lim Kok Thay
Lim Kok Thay is the current helmsman of the Genting Group, with a personal fortune of USD 3.2 billion (approximately MYR 14.2 billion), ranking second among Malaysia's gambling industry billionaires. He joined his father's Genting Group in 1976, and under the joint efforts of the Lim father and son, Genting has developed into one of the largest conglomerates in Southeast Asia. After the death of Lim Goh Tong in 2007, Lim Kok Thay took over the family business and expanded it further into sectors such as power generation, plantation, real estate, manufacturing, and oil, earning him the title of "Malaysia's strongest rich second generation."
Additionally, Lim Kok Thay is the founder of "Star Cruises," breaking the history of "no luxury cruises in Asia." In the early 1990s, he keenly captured the potential of the Asian cruise market, despite many believing that the Asian economy could not support the development of the cruise industry. However, the rapid development of Star Cruises and Dream Cruises under Genting Hong Kong has proven his visionary insight.
4.Naga Corp—Chen Lip Keong
Chen Lip Keong is the boss of Naga Corp, with a personal fortune of USD 5.3 billion (approximately MYR 23.5 billion), ranking first among Malaysia's gambling industry billionaires. He graduated from the Faculty of Medicine at the University of Malaya but eventually chose to enter the real estate industry and moved to Cambodia 30 years ago to invest, founding Naga World, known as the "King of Cambodian Casinos."
After achieving success in real estate development, Chen Lip Keong cooperated with the Malaysian government to establish an aerospace components company, specializing in the manufacture of aircraft parts. Under the then Prime Minister Tun Mahathir's initiative of "prospering thy neighbor, not impoverishing thy neighbor," he actively participated in international cooperation, using this opportunity to expand his business empire.
During his time in Cambodia, Chen Lip Keong inadvertently ventured into the gambling industry. In 1995, he successfully obtained a 70-year casino operating license from the Royal Government of Cambodia, officially launching his gambling empire. Although his initial plan was to invest in the hotel industry, he keenly seized the opportunity of the casino license, laying the foundation for the rise of Naga Corp.
