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 is performing what she’ll to help Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun may be also known for gracing society and entertainment pages, but 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 exhibition to market the project of young art graduates in September.
“Macau is beginning to change,” she tells The Collector. “We don’t want to rely just on the gaming industry. We wish more families into the future here for holidays, we should boost our cultural and creative industries.”
This is the politically correct view for that daughter of your casino magnate. Macau is in the cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging town to stop its addiction to the gaming sector, the required taxes from where spend on most public expenditures, back through the boom years, in the event the “build it and they’re going to come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers coupled with a slowing economy have gone up the stress to discover new revenues.
Fundamental change may be slow into the future. Five casinos have opened since 2012 and much more are on the best way, including two from branches in 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 sentimental advertising for that clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections can help it plunge into a whole new and wealthy market where no international house has a presence. Inturn, Ho says, she would like the auctions to help attract tourists as well as perhaps encourage the city’s 600,000 residents to develop a greater portion of a desire for culture. Their bond, called Poly Auction Macau, is 51 percent of Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up in the middle of art and other collectables of her parents but jane is a newcomer to the auctions business. After graduating having an arts degree through the University of Hong Kong, in 2013, she done the branding and marketing side in the family’s hotel and property businesses. “But I favor art i asked Poly if I will work in their free time in their Hong Kong office, to understand the auction world,” she says.
More details about Stanley ho daughter view this popular webpage: click to read more