Sabrina Ho looks to Macau art fairs and auctions to diversify overall economy far from casinos
As pressure grows on Macau to get new reasons for revenue, scion of casino dynasty imagines an alternative future for the other SAR
Sabrina Ho Chiu-yeng does what she’ll to help 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 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 exhibition in promoting the task of young art graduates in September.
“Macau has been evolving,” she tells The Collector. “We don’t desire to rely just on the gaming industry. We would like more families in the future in charge of holidays, we want to boost our cultural and creative industries.”
This is a politically correct view for the daughter of your casino magnate. Macau influences cross hairs of Beijing’s war on corruption and capital outflow. The central government started urging the location to stop its addiction to the gaming sector, the required taxes where purchase most public expenditures, back through the boom years, when the “build it and they can come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers joined with a slowing economy have risen the stress to get new revenues.
Fundamental change may be slow in the future. Five casinos have opened since 2012 plus much more are stored on the way in which, 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 Sabrina ho chiu yeng‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a bit of soft publicity for the clan?
Well, China’s biggest auction house is treating her seriously, and hopes her youthful energy and family connections can help it enter a fresh and wealthy market where no international house has a presence. In turn, Ho says, sherrrd like the auctions to help attract tourists and maybe encourage the city’s 600,000 residents to build up much more of a desire for culture. The partnership, called Poly Auction Macau, is 51 percent owned by Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho grew up encompassed by art along with other collectables owned by her parents but she actually is new to angling to the auctions business. After graduating by having an arts degree through the University of Hong Kong, in 2013, she done the branding and marketing side of the family’s hotel and property businesses. “But I prefer art and i also asked Poly if I could work part time at their Hong Kong office, to discover the auction world,” she says.
Check out about Sabrina ho chiu yeng view this useful web page: here