As pressure grows on Macau to discover new reasons for revenue, scion of casino dynasty imagines an alternative future for that other SAR
Sabrina Ho Chiu-yeng has been doing what she can to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be better known for gracing society and entertainment pages, but 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 exhibition to advertise the work of young art graduates in September.
“Macau is evolving,” she tells The Collector. “We don’t need to rely just about the gaming industry. We want more families ahead to put holidays, we want to boost our cultural and inventive industries.”
This is the politically correct view for that daughter of the casino magnate. Macau influences cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the town to give up its obsession with the gaming sector, the required taxes from which pay for most public expenditures, back through the boom years, once the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers coupled with a slowing economy have gone up pressure to succeed to discover new revenues.
Fundamental change may be slow ahead. Five casinos have opened since 2012 plus more are stored on the best way, 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 chiu yeng‘s half-sister Pansy Ho Chiu-king.
So are Sabrina’s cultural endeavours all just a bit of soppy public relations for that clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections can help it break into a new and wealthy market where no international house carries a presence. In turn, Ho says, sherrrd like the auctions to help attract tourists and perhaps let the city’s 600,000 residents to develop really a desire for culture. Their bond, called Poly Auction Macau, is 51 per-cent of Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my childhood years in the middle of art as well as other collectables of her parents but jane is fairly new on the auctions business. After graduating having an arts degree in the University of Hong Kong, in 2013, she handled the branding and marketing side of the family’s hotel and property businesses. “But I favor art and I asked Poly basically could work in their free time inside their Hong Kong office, to understand the auction world,” she says.
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