Sabrina Ho looks to Macau art fairs and auctions to diversify overall economy from casinos
As pressure grows on Macau to get new causes of revenue, scion of casino dynasty imagines a different future for that other SAR
Sabrina Ho Chiu-yeng does what she’ll to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could possibly be higher quality 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 also in November held her annual hotel art fair, having already launched an exhibit to market the job of young art graduates in September.
“Macau is evolving,” she tells The Collector. “We don’t want to rely just for the gaming industry. We wish more families into the future here for holidays, we want to 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 war on corruption and capital outflow. The central government started urging the location to stop its being hooked on the gaming sector, the required taxes from where purchase most public expenditures, back during the boom years, if 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 risen pressure to get new revenues.
Fundamental change has become slow into the future. Five casinos have opened since 2012 plus 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 Casino tycoon daughter‘s half-sister Pansy Ho Chiu-king.
So are Sabrina’s cultural endeavours all just a bit of soft pr for that clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections might help it break into a whole new and wealthy market where no international house includes a presence. In return, Ho says, sherrrd like the auctions to assist attract tourists and maybe let the city’s 600,000 residents to develop much more of a desire for culture. Their bond, called Poly Auction Macau, is 51 percent properties of Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up flanked by art and also other collectables properties of her parents but jane is new to angling towards the auctions business. After graduating having an arts degree from your University of Hong Kong, in 2013, she worked on the branding and marketing side from the family’s hotel and property businesses. “But I favor art and I asked Poly if I can perform in their free time at their Hong Kong office, to discover the auction world,” she says.
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