{"id":8030,"date":"2014-09-18T04:43:50","date_gmt":"2014-09-18T04:43:50","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/09\/18\/tycoon-buys-30-rolls-royces-for-macau-hotel\/"},"modified":"2014-09-18T04:43:50","modified_gmt":"2014-09-18T04:43:50","slug":"tycoon-buys-30-rolls-royces-for-macau-hotel","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/09\/18\/tycoon-buys-30-rolls-royces-for-macau-hotel\/","title":{"rendered":"Tycoon buys 30 Rolls-Royces for Macau hotel"},"content":{"rendered":"


\n\"\"
\n\tIn this Tuesday, Sept. 16, 2014 photo provided by Rolls-Royce Motor Cars, Louis XIII Holdings Ltd. Chairman Stephen Hung, left, poses with Rolls-Royce Motor Cars CEO Torsten Mueller-Oetvoes at the Rolls-Royce’s headquarters in Goodwood, Britain. Hung, a Hong Kong tycoon, placed the biggest ever order for Rolls-Royce cars, agreeing to buy 30 Phantoms for $20 million for a luxury resort hes building in the global gambling capital of Macau. Hung and Rolls-Royce executives signed the deal Tuesday at the companys Goodwood factory.<\/span><\/p>\n

\tBy KELVIN CHAN
\n\tTHE ASSOCIATED PRESS
\n\tHONG KONG \u2014 A Hong Kong tycoon has placed the biggest ever order for Rolls-Royce cars, agreeing to buy 30 Phantoms to chauffeur guests at a luxury resort he\u2019s building in the global gambling capital of Macau.<\/p>\n

\tStephen Hung\u2019s $20 million purchase surpasses the 14 Phantoms bought by Hong Kong\u2019s Peninsula Hotel in 2006.<\/p>\n

\tHung and Rolls-Royce executives signed the deal Tuesday at the company\u2019s Goodwood factory in England.<\/p>\n

\tThe Extended Wheelbase Phantoms will be used for guests at Hung\u2019s \u201cultra-luxury\u201d Louis XIII hotel, which is scheduled to open in early 2016.<\/p>\n

\tRolls-Royce said two of the cars will be the most expensive Phantoms ever commissioned, complete with \u201cgold-plated accents\u201d on the outside and interior.<\/p>\n

\tLouis XIII Holdings Ltd. said it will pay the automaker a $2 million deposit, $3 million more by the end of the year and the remaining $15 million when the cars are delivered in the first half of 2016.<\/p>\n

\tThe Phantom\u2019s base price in Britain is about 450,000 pounds ($734,000) including taxes, a company spokesman said, though prices vary by market and many buyers order custom features that push prices much higher. Customers have been known to spend more than $1 million on bespoke models.<\/p>\n

\tWith casino revenues of $45 billion last year, Macau is the world\u2019s most lucrative gambling market, outpacing the Las Vegas Strip seven times over. After authorities ended a casino monopoly a decade ago, newly wealthy mainland Chinese high rollers started pouring in to wager at glitzy new resorts built by foreign operators such as Las Vegas Sands Corp. and Wynn Resorts.<\/p>\n

\tHowever, the boom is beginning to fade as Chinese President Xi Jinping\u2019s corruption crackdown starts to bite, putting a dampener on lavish spending by officials and other wealthy Chinese. Macau\u2019s gambling revenues fell 6 percent in August, the third straight month of annual decline after five years of uninterrupted growth.<\/p>\n

\tHung, a former investment banker, is known for his flamboyant style and the resort looks to be the flashiest of the wave of expansion projects now under construction in the tiny Chinese territory near Hong Kong.<\/p>\n

\tNamed after the French king who started building the famed Palace of Versailles, the resort will boast a 20,000 square foot (1,860 square meter) villa billed as the world\u2019s \u201cmost extravagant\u201d hotel suite that will reportedly cost $130,000 a night.<\/p>\n

\tHung has even enlisted a descendent of Louis XIII to help with the hotel\u2019s design, based on French Renaissance and Baroque styling.<\/p>\n

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In this Tuesday, Sept. 16, 2014 photo provided by Rolls-Royce Motor Cars, Louis XIII Holdings Ltd. Chairman Stephen Hung, left, poses with Rolls-Royce Motor Cars CEO Torsten Mueller-Oetvoes at the Rolls-Royce’s headquarters in Goodwood, Britain. Hung, a Hong Kong tycoon,…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8030","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8030"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8030\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}