As pressure grows on Macau to locate new options for revenue, scion of casino dynasty imagines a different future to the other SAR
Sabrina Ho Chiu-yeng has been doing what she’ll to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be also known for gracing society and entertainment pages, however in January she organised the very first Macau sales by China’s state-owned Poly Auction and then in November held her very own annual hotel art fair, having already launched an exhibition to promote 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 wish more families ahead for holidays, we would like to boost our cultural and artistic industries.”
This can be a politically correct view to the daughter of a casino magnate. Macau is within the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the city to stop its dependence on the gaming sector, the taxes where purchase most public expenditures, back in the boom years, when the “build it and they can come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers combined with a slowing economy have gone up pressure to succeed to locate new revenues.
Fundamental change has become slow ahead. Five casinos have opened since 2012 and much more take presctiption the way in which, including two from branches in 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 bit of soft pr to the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections will help it plunge into a fresh and wealthy market where no international house features a presence. In exchange, Ho says, she wants the auctions to help attract tourists and maybe let the city’s 600,000 residents to produce much more of an interest in culture. Their bond, called Poly Auction Macau, is 51 per-cent owned by Poly as well as the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my youth encompassed by art as well as other collectables owned by her parents but she is new to angling for the auctions business. After graduating with the arts degree from your University of Hong Kong, in 2013, she done the branding and marketing side in the family’s hotel and property businesses. “But I favor art and that i asked Poly only can perform in their free time at their Hong Kong office, to learn about the auction world,” she says.
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