As pressure grows on Macau to discover new reasons for revenue, scion of casino dynasty imagines a different future for that other SAR
Sabrina Ho Chiu-yeng is doing what she’ll to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be also known for gracing society and entertainment pages, however in January she organised the initial 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 task of young art graduates in September.
“Macau is evolving,” she tells The Collector. “We don’t want to rely just for the gaming industry. We wish more families in the future to put holidays, we would like to boost our cultural and artistic industries.”
This is a politically correct view for that daughter of an 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 taxes that pay for most public expenditures, back through the boom years, once the “build it and they will come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers combined with a slowing economy have raised pressure to discover new revenues.
Fundamental change may be slow in the future. Five casinos have opened since 2012 and more are stored on the 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 Stanley ho daughter‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all slightly of soft pr for that clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections might help it enter a brand new and wealthy market where no international house features a presence. In turn, Ho says, sherrrd like the auctions to assist attract tourists as well as perhaps let the city’s 600,000 residents to produce really a desire for culture. Their bond, called Poly Auction Macau, is 51 per-cent properties of Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised in the middle of art along with other collectables properties of her parents but she actually is a newcomer on the auctions business. After graduating having an arts degree through the University of Hong Kong, in 2013, she worked on the branding and marketing side of the family’s hotel and property businesses. “But I like art and that i asked Poly easily can perform part-time in their Hong Kong office, to learn about the auction world,” she says.
To learn more about Stanley ho daughter have a look at our website: check it out