As pressure grows on Macau to locate new sources of revenue, scion of casino dynasty imagines another future for that other SAR
Sabrina Ho Chiu-yeng is performing what she’ll to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun may be also known for gracing society and entertainment pages, but also in January she organised the 1st Macau sales by China’s state-owned Poly Auction and then in November held her own annual hotel art fair, having already launched an exhibition to promote the work of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t wish to rely just around the gaming industry. We’d like more families to come here for holidays, you want to boost our cultural and creative industries.”
This is a politically correct view for that daughter of an casino magnate. Macau influences cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging town to give up its dependence on the gaming sector, the taxes that buy most public expenditures, back in the boom years, in the event the “build it and they can come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have raised pressure to succeed to locate new revenues.
Fundamental change has been slow to come. Five casinos have opened since 2012 plus much more are saved to the best way, 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 are Sabrina’s cultural endeavours all slightly of soppy pr for that clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections might help it break into a new and wealthy market where no international house has a presence. In return, Ho says, sherrrd like the auctions to help attract tourists and possibly let the city’s 600,000 residents to develop really a desire for culture. The partnership, called Poly Auction Macau, is 51 % belonging to Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my youth surrounded by art and other collectables belonging to her parents but jane is a newcomer on the auctions business. After graduating having an arts degree through the University of Hong Kong, in 2013, she done the branding and marketing side in the family’s hotel and property businesses. “But I love art and that i asked Poly basically will work in your free time within their Hong Kong office, to understand the auction world,” she says.
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