Sabrina Ho looks to Macau art fairs and auctions to diversify overall economy away from casinos
As pressure grows on Macau to get new sources of revenue, scion of casino dynasty imagines a different future to the other SAR
Sabrina Ho Chiu-yeng is doing what she could to help you Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun may be more well known for gracing society and entertainment pages, but in January she organised the first Macau sales by China’s state-owned Poly Auction and then in November held her own annual hotel art fair, having already launched an exhibition in promoting the task of young art graduates in September.
“Macau is evolving,” she tells The Collector. “We don’t wish to rely just about the gaming industry. We wish more families into the future to put holidays, you want to boost our cultural and creative industries.”
It is a politically correct view to the daughter of the casino magnate. Macau is incorporated in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging town to give up its obsession with the gaming sector, the required taxes from which pay for most public expenditures, back in the boom years, in the event 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 raised pressure to succeed to get new revenues.
Fundamental change has been slow into the future. Five casinos have opened since 2012 and more are on 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 Stanley ho daughter‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a little of soppy pr to the clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections might help it break into a new and wealthy market where no international house includes a presence. In turn, Ho says, sherrrd like the auctions to help you attract tourists and maybe encourage the city’s 600,000 residents to build up a greater portion of an interest in culture. The partnership, called Poly Auction Macau, is 51 % of Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my childhood years surrounded by art as well as other collectables of her parents but she’s a novice on the auctions business. After graduating with the arts degree from your University of Hong Kong, in 2013, she labored on the branding and marketing side from the family’s hotel and property businesses. “But I prefer art and I asked Poly easily will work in your free time inside their Hong Kong office, to find out about the auction world,” she says.
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