As pressure grows on Macau to discover new reasons for revenue, scion of casino dynasty imagines a different future to the other SAR
Sabrina Ho Chiu-yeng does what she will to aid 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 1st Macau sales by China’s state-owned Poly Auction and also in November held her own annual hotel art fair, having already launched an exhibition to promote the job of young art graduates in September.
“Macau is changing,” she tells The Collector. “We don’t desire to rely just around the gaming industry. We wish more families into the future for holidays, we should boost our cultural and creative industries.”
It is a politically correct view to the daughter of the casino magnate. Macau is incorporated in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the city to stop its obsession with the gaming sector, the required taxes that pay for most public expenditures, back through the boom years, once the “build it and they’re going to come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers joined with a slowing economy have gone up pressure to succeed to discover new revenues.
Fundamental change has been slow into the future. Five casinos have opened since 2012 and much more are on the best way, 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 Sabrina ho‘s half-sister Pansy Ho Chiu-king.
So are Sabrina’s cultural endeavours all just a bit 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 whole new and wealthy market where no international house has a presence. In exchange, Ho says, sherrrd like the auctions to aid attract tourists as well as perhaps encourage the city’s 600,000 residents to develop more of a desire for culture. The partnership, called Poly Auction Macau, is 51 percent owned by Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised encompassed by art and other collectables owned by her parents but she’s fairly new for the auctions business. After graduating by having an arts degree from your University of Hong Kong, in 2013, she labored on the branding and marketing side with the family’s hotel and property businesses. “But I love art and I asked Poly basically perform part-time in their Hong Kong office, to learn about the auction world,” she says.
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