As pressure grows on Macau to find new reasons for revenue, scion of casino dynasty imagines an alternative future for the other SAR
Sabrina Ho Chiu-yeng is performing what she will to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could possibly be also known for gracing society and entertainment pages, but also in January she organised the 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 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 for the gaming industry. We would like more families in the future here for holidays, you want to boost our cultural and creative industries.”
This can be a politically correct view for the daughter of an casino magnate. Macau is in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the town to stop its being hooked on the gaming sector, the taxes that purchase most public expenditures, back throughout the boom years, once the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers combined with a slowing economy have risen the pressure to find new revenues.
Fundamental change has become slow in the future. Five casinos have opened since 2012 and much more are stored on just how, including two from branches of 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 might be Sabrina’s cultural endeavours all just a bit of soppy pr for the clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections might help it plunge into a whole new and wealthy market where no international house includes a presence. In return, Ho says, she wants the auctions to assist attract tourists and maybe encourage the city’s 600,000 residents to develop a greater portion of a desire for culture. The partnership, called Poly Auction Macau, is 51 percent properties of Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my youth flanked by art along with other collectables properties of her parents but she’s new to angling on the auctions business. After graduating with the arts degree from your University of Hong Kong, in 2013, she handled the branding and marketing side of the family’s hotel and property businesses. “But I love art i asked Poly if I can perform in your free time within their Hong Kong office, to learn about the auction world,” she says.
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