As pressure grows on Macau to locate new causes of revenue, scion of casino dynasty imagines another future to the other SAR
Sabrina Ho Chiu-yeng is doing what she can to help you Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be also known for gracing society and entertainment pages, but in January she organised the 1st Macau sales by China’s state-owned Poly Auction and then in November held her very own annual hotel art fair, having already launched an exhibit to advertise the job of young art graduates in September.
“Macau is beginning to change,” she tells The Collector. “We don’t want to rely just about the gaming industry. We want more families in the future for holidays, we should boost our cultural and creative industries.”
It is a politically correct view to the daughter of the casino magnate. Macau is within the cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging the location to relinquish its addiction to the gaming sector, the required taxes that buy most public expenditures, back in the boom years, if the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers joined with a slowing economy have risen the stress to locate new revenues.
Fundamental change has been slow in the future. Five casinos have opened since 2012 plus much more take presctiption 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 Casino tycoon daughter‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all slightly of soppy public relations to the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections can help it plunge into a new and wealthy market where no international house has a presence. In exchange, Ho says, sherrrd like the auctions to help you attract tourists and possibly let the city’s 600,000 residents to develop a greater portion of a desire for culture. The partnership, called Poly Auction Macau, is 51 per-cent belonging to Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up encompassed by art and also other collectables belonging to her parents but jane is new to angling for the auctions business. After graduating with an arts degree through the University of Hong Kong, in 2013, she done the branding and marketing side of the family’s hotel and property businesses. “But I favor art i asked Poly if I could work part-time within their Hong Kong office, to understand the auction world,” she says.
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