Chen Lip Keong – Low profile billionaire who monopolizes Cambodia’s casinos

Chen Lip Keong
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Malaysia’s unknown gaming billionaire

Tan Sri Dr Chen Lip Keong would perhaps not be the person anyone would associate with the gaming industry. But unknown to many, his company NagaCorp is actually one of the most prominent gaming companies in the Southeast Asian region.

Casinos and gaming industries are always associated with Genting Group. However, Dr Chen made a name for himself by being the man who monopolizes the gambling industry in Cambodia. In fact, NagaCorp actually owns the largest casinos in that country.

Accidental casino tycoon

In the capital of Phnom Penh, Chen is the monopoly holder of the gambling sector. The medical doctor established the company in 1995 and listed it on the Hong Kong stock exchange. In 2015, he was the 23rd richest man in Malaysia and has since become in the top 10 in 2021. Dr Chen has been on the Forbes list since 2009 and has been on the steady climb ever since. In Cambodia, his casino business was awarded a 70-years license. To facilitate his business, he leased two airplanes to ferry customers to his casinos from as far as China and Macau. Besides his casino business enjoying a monopoly in Phnom Penh until 2035, he is also involved in other projects that include hotels and retail.

Chen Lip Keong’s Net Worth

$3.4 billion (2021)

Age 74

Source Of Wealth

Dr Chen’s main source of wealth comes from his gaming business.

Residence
Kuala Lumpur
Citizenship
Malaysia
Marital Status
Dr Chen is married to Puan Sri Lee Chou Sarn
Children
The couple has 3 sones, Chen Yiy Hwuan, Chen Yepern and Chen Yiy Fon. Chen Yepern is actively involved in helping out in his business.
Education
Dr Chen is a graduate of University of Malaya who has a degree in Medicine and Surgery.

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