As pressure grows on Macau to locate new causes of revenue, scion of casino dynasty imagines a different future to the other SAR
Sabrina Ho Chiu-yeng does what she can to help you 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 exhibit to promote the job of young art graduates in September.
“Macau is beginning to change,” she tells The Collector. “We don’t need to rely just for the gaming industry. We’d like more families into the future for holidays, we should boost our cultural and artistic industries.”
This is a politically correct view to the daughter of a casino magnate. Macau is incorporated in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the location to quit its obsession with the gaming sector, the required taxes where buy most public expenditures, back throughout the boom years, if the “build it and they will come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have increased the pressure to locate new revenues.
Fundamental change may be slow into the future. Five casinos have opened since 2012 and much 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 Casino tycoon daughter‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a bit 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 might help it break into a brand new and wealthy market where no international house carries a presence. In return, Ho says, she would like the auctions to help you attract tourists and perhaps let the city’s 600,000 residents to produce a greater portion of an interest in 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 she actually is fairly new on the auctions business. After graduating having an arts degree in the University of Hong Kong, in 2013, she done the branding and marketing side of the family’s hotel and property businesses. “But I prefer art and I asked Poly easily could work part time within their Hong Kong office, to discover the auction world,” she says.
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