Sabrina Ho looks to Macau art fairs and auctions to diversify economic climate from casinos
As pressure grows on Macau to get new sources of revenue, scion of casino dynasty imagines some other future for that other SAR
Sabrina Ho Chiu-yeng is doing what she will to assist Macau diversify. The 26-year-old daughter of Stanley Ho Hung-sun could be higher quality 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 exhibition to market the work 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 would like more families ahead for holidays, we want to boost our cultural and artistic industries.”
This is the politically correct view for that 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 spend on most public expenditures, back throughout the boom years, if the “build it and they’ll come” mentality ruled the casino industry. Today, mainland policies to discourage high rollers along with a slowing economy have raised pressure to get new revenues.
Fundamental change continues to be slow ahead. Five casinos have opened since 2012 plus more take presctiption just how, 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‘s half-sister Pansy Ho Chiu-king.
So can be Sabrina’s cultural endeavours all just a bit of soppy publicity for that clan?
Well, China’s biggest ah is treating her seriously, and hopes her youthful energy and family connections will help it plunge into a brand new and wealthy market where no international house features a presence. In turn, Ho says, sherrrd like the auctions to assist attract tourists and maybe encourage the city’s 600,000 residents to develop really a desire for culture. The partnership, called Poly Auction Macau, is 51 percent properties of Poly and the rest by Ho’s company, Chiu Yeng Culture.
Ho was raised encompassed by art as well as other collectables properties of her parents but she’s new to angling on the auctions business. After graduating having an arts degree from the University of Hong Kong, in 2013, she handled the branding and marketing side with the family’s hotel and property businesses. “But I like art and that i asked Poly if I could work part time inside their Hong Kong office, to understand the auction world,” she says.
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