As pressure grows on Macau to locate new options for revenue, scion of casino dynasty imagines a different future to the other SAR
Sabrina Ho Chiu-yeng is doing what she will to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun might be also known for gracing society and entertainment pages, but also in January she organised the initial Macau sales by China’s state-owned Poly Auction and also in November held her own annual hotel art fair, having already launched an exhibit to market the task of young art graduates in September.
“Macau is beginning to change,” she tells The Collector. “We don’t need to rely just about the gaming industry. We want more families to come here for holidays, we should boost our cultural and artistic industries.”
This is the politically correct view to the daughter of the casino magnate. Macau influences cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the location to stop its addiction to the gaming sector, the taxes from where buy most public expenditures, back through the boom years, in the event the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have raised pressure to locate new revenues.
Fundamental change has been slow to come. Five casinos have opened since 2012 plus much more are saved to the 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 just a bit of sentimental pr to the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections might help it get into a brand new and wealthy market where no international house carries a presence. In return, Ho says, sherrrd like the auctions to help attract tourists and perhaps let the city’s 600,000 residents to build up a greater portion of a desire for culture. The partnership, called Poly Auction Macau, is 51 % owned by Poly and also the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up in the middle of art as well as other collectables owned by her parents but she actually is new to angling towards the auctions business. After graduating with an arts degree through the University of Hong Kong, in 2013, she worked on the branding and marketing side from the family’s hotel and property businesses. “But I love art and i also asked Poly easily can perform part time at their Hong Kong office, to learn about the auction world,” she says.
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