As pressure grows on Macau to get new options for revenue, scion of casino dynasty imagines an alternative future to the other SAR
Sabrina Ho Chiu-yeng does what she will to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun might be higher quality 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 own annual hotel art fair, having already launched an exhibit in promoting the job of young art graduates in September.
“Macau is changing,” she tells The Collector. “We don’t wish to rely just about the gaming industry. We wish more families in the future in charge of holidays, we want to boost our cultural and artistic industries.”
This is a politically correct view to the daughter of your casino magnate. Macau is incorporated in the cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging town to quit its addiction to the gaming sector, the taxes from where purchase most public expenditures, back through the boom years, if the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have risen the stress to get new revenues.
Fundamental change has been slow in the future. Five casinos have opened since 2012 plus much more are on just how, including two from branches with 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 Stanley ho daughter‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all slightly of soft public relations to the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections will help it get into a fresh and wealthy market where no international house has a presence. In turn, Ho says, she wants the auctions to help attract tourists and maybe let the city’s 600,000 residents to formulate really an interest in culture. The partnership, called Poly Auction Macau, is 51 per cent properties of Poly as well as the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up surrounded by art and also other collectables properties of her parents but she’s a novice 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 with the family’s hotel and property businesses. “But I prefer art and that i asked Poly if I perform part time inside their Hong Kong office, to understand the auction world,” she says.
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