As pressure grows on Macau to discover new sources of revenue, scion of casino dynasty imagines an alternative future for that other SAR
Sabrina Ho Chiu-yeng has been doing what she could to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun might be higher quality for gracing society and entertainment pages, however in January she organised the initial Macau sales by China’s state-owned Poly Auction and also in November held her annual hotel art fair, having already launched an exhibition in promoting the work of young art graduates in September.
“Macau is changing,” she tells The Collector. “We don’t wish to rely just around the gaming industry. We would like more families into the future for holidays, we should boost our cultural and artistic industries.”
This is a politically correct view for that daughter of an casino magnate. Macau is incorporated in the cross hairs of Beijing’s fight against corruption and capital outflow. The central government started urging town to relinquish its being hooked on the gaming sector, the required taxes from which spend on most public expenditures, back in the boom years, once the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers coupled with a slowing economy have gone up pressure to discover new revenues.
Fundamental change has become slow into the future. Five casinos have opened since 2012 plus much more are saved to just how, 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 Stanley ho daughter‘s half-sister Pansy Ho Chiu-king.
So are Sabrina’s cultural endeavours all just a bit of soft advertising for that clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections will help it plunge into a whole new and wealthy market where no international house features a presence. Inturn, Ho says, sherrrd like the auctions to help attract tourists as well as perhaps let the city’s 600,000 residents to formulate much more of an interest in culture. Their bond, called Poly Auction Macau, is 51 per-cent of Poly as well as the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised surrounded by art as well as other collectables of her parents but jane is a novice towards the auctions business. After graduating with the arts degree from your University of Hong Kong, in 2013, she handled the branding and marketing side of the family’s hotel and property businesses. “But I favor art and that i asked Poly easily can perform part-time at their Hong Kong office, to understand the auction world,” she says.
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