As pressure grows on Macau to find new reasons for revenue, scion of casino dynasty imagines another future to the other SAR
Sabrina Ho Chiu-yeng is doing what she will to aid Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be higher quality 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 annual hotel art fair, having already launched an exhibit to promote the work of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t want to rely just on the gaming industry. We would like more families in the future for holidays, you want to boost our cultural and inventive industries.”
This can be a politically correct view to the daughter of an casino magnate. Macau is in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the city to relinquish its addiction to the gaming sector, the required taxes from which buy 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 joined with a slowing economy have raised pressure to succeed to find new revenues.
Fundamental change has become slow in the future. Five casinos have opened since 2012 and much more are saved to the best way, including two from branches from 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 can be Sabrina’s cultural endeavours all slightly of sentimental public relations to the clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections might help it enter a whole new and wealthy market where no international house includes a presence. Inturn, Ho says, she would like the auctions to aid attract tourists as well as perhaps encourage the city’s 600,000 residents to build up really a desire for culture. The partnership, called Poly Auction Macau, is 51 per cent of Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised flanked by art as well as other collectables of her parents but jane is fairly new on the auctions business. After graduating by having an arts degree in the University of Hong Kong, in 2013, she handled the branding and marketing side from the family’s hotel and property businesses. “But I prefer art and that i asked Poly if I could work in your free time inside their Hong Kong office, to discover the auction world,” she says.
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