As pressure grows on Macau to find new causes of revenue, scion of casino dynasty imagines an alternative 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 more well known for gracing society and entertainment pages, but also 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 in promoting the task of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t need to rely just for the gaming industry. We want more families to come to put holidays, we should boost our cultural and inventive industries.”
This can be a politically correct view for the daughter of your casino magnate. Macau influences cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging the city to quit its dependence on the gaming sector, the taxes that purchase most public expenditures, back in the boom years, in the event the “build it and they will come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers joined with a slowing economy have increased the stress to find new revenues.
Fundamental change continues to be slow to come. Five casinos have opened since 2012 and more are saved to the way in which, including two from branches with 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 are Sabrina’s cultural endeavours all just a little of soft advertising for the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections can help it break into a whole new and wealthy market where no international house includes a presence. Inturn, Ho says, sherrrd like the auctions to assist attract tourists and perhaps let the city’s 600,000 residents to build up more of a desire for culture. Their bond, called Poly Auction Macau, is 51 per cent properties of Poly and also the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up surrounded by art as well as other collectables properties of her parents but she is fairly new for 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 with the family’s hotel and property businesses. “But I like art and that i asked Poly if I will work part time within their Hong Kong office, to discover the auction world,” she says.
More info about Stanley ho daughter browse our site: click here
