As pressure grows on Macau to get new options for revenue, scion of casino dynasty imagines some other future for the other SAR
Sabrina Ho Chiu-yeng does what she could to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun may be higher quality for gracing society and entertainment pages, but 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 exhibit to market the work of young art graduates in September.
“Macau is changing,” she tells The Collector. “We don’t want to rely just on the gaming industry. We wish more families into the future in charge of holidays, you want to boost our cultural and inventive industries.”
This can be a politically correct view for 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 town to give up its obsession with the gaming sector, the required taxes from where spend on most public expenditures, back during the boom years, if the “build it and they can come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have gone up the pressure to get new revenues.
Fundamental change continues to be slow into the future. Five casinos have opened since 2012 and much more are stored on the way in which, including two from branches in 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 are Sabrina’s cultural endeavours all just a little of soppy pr for the clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections can help it get into a whole new and wealthy market where no international house includes a presence. In turn, Ho says, she would like the auctions to assist attract tourists and perhaps let the city’s 600,000 residents to formulate more of an interest in 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 spent my childhood years encompassed by art as well as other collectables of her parents but she actually is a novice towards the auctions business. After graduating with an arts degree from the University of Hong Kong, in 2013, she done the branding and marketing side in the family’s hotel and property businesses. “But I prefer art and I asked Poly only can perform part time in their Hong Kong office, to find out about the auction world,” she says.
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