Che Woo, the founder and Chairman of Galaxy Entertainment Group (GEG).

GEG announced late Monday that Dr Lui had passed away peacefully on 7 November at the age of 95.

In a media statement on Tuesday, the Chief Executive said he had written to the family to express his condolences.

“Dr Lui was a highly respected entrepreneur and philanthropist, and we commend him for his significant contributions to the appropriate and diversified development of the Macau economy over the years,” he said.