As pressure grows on Macau to get new reasons for revenue, scion of casino dynasty imagines an alternative future to the other SAR
Sabrina Ho Chiu-yeng is doing what she could to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun may be better known for gracing society and entertainment pages, but also in January she organised the initial Macau sales by China’s state-owned Poly Auction and also in November held her annual hotel art fair, having already launched an exhibition to market the task of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t wish to rely just about the gaming industry. We want more families in the future here for holidays, you want to boost our cultural and creative industries.”
This is the politically correct view to the daughter of an casino magnate. Macau is in the cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging the city to quit its addiction to the gaming sector, the taxes where spend on most public expenditures, back during the boom years, if the “build it and they will come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers combined with a slowing economy have gone up pressure to get new revenues.
Fundamental change has been slow in the future. Five casinos have opened since 2012 and more are saved to the way, including two from branches from the Ho empire – the Grand Lisboa Palace, led by Ho’s mother, Angela Leong On-kei (Stanley’s so-called “fourth wife”), and MGM Cotai, headed by Sabrina ho chiu yeng‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a little of soft pr to the clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections may help it plunge into a brand new and wealthy market where no international house features a presence. In exchange, Ho says, sherrrd like the auctions to assist attract tourists and perhaps let the city’s 600,000 residents to develop really a desire for culture. Their bond, called Poly Auction Macau, is 51 % properties of Poly as well as the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised encompassed by art and also other collectables properties of her parents but she’s new to angling towards the auctions business. After graduating by having an arts degree from the University of Hong Kong, in 2013, she done the branding and marketing side from the family’s hotel and property businesses. “But I love art and that i asked Poly easily could work in your free time in their Hong Kong office, to learn about the auction world,” she says.
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