Sabrina Ho looks to Macau art fairs and auctions to diversify economic system away from casinos
As pressure grows on Macau to discover new sources of revenue, scion of casino dynasty imagines another future for that other SAR
Sabrina Ho Chiu-yeng is doing what she can to help you Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be more well known for gracing society and entertainment pages, in January she organised the first Macau sales by China’s state-owned Poly Auction and also in November held her own annual hotel art fair, having already launched an exhibit in promoting the project of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t want to rely just around the gaming industry. We wish more families to come here for holidays, you want to boost our cultural and artistic industries.”
It is a politically correct view for that daughter of your 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 quit its dependence on the gaming sector, the required taxes that pay for most public expenditures, back throughout the boom years, if 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 risen pressure to succeed to discover new revenues.
Fundamental change has been slow to come. Five casinos have opened since 2012 and more are stored on the best way, 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 Sabrina ho chiu yeng‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a bit of soft advertising for that clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections might help it enter a fresh and wealthy market where no international house carries a presence. Inturn, Ho says, sherrrd like the auctions to help you attract tourists and maybe encourage the city’s 600,000 residents to build up much more of an interest in culture. Their bond, called Poly Auction Macau, is 51 % of Poly along with the rest by Ho’s company, Chiu Yeng Culture.
Ho spent my childhood years flanked by art along with other collectables of her parents but jane is a newcomer for the auctions business. After graduating having an arts degree in the University of Hong Kong, in 2013, she handled the branding and marketing side with the family’s hotel and property businesses. “But I love art and i also asked Poly if I could work part-time within their Hong Kong office, to understand the auction world,” she says.
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