Stephen Hung just placed the biggest ever purchase order made for Rolls-Royce cars. The 30 Rolls Royce Phantoms will be used to chauffeur guests who would come to the luxury resort offering Baccarat and other casino games, that Hung is building in Macau, dubbed as a global gambling capital. Hung's purchase, which has reached a grand total of $20 million, surpasses the record held by Hong Kong's Peninsula Hotel when it bought 14 Phantoms back in 2006.
The deal was finalized and signed at Rolls-Royce's Goodwood factory in England. Part of the deal includes the purchase of two of the most expensive Phantom cars ever made which have been customized in their design to include gold plated accents on both the exterior and interior.
Based on the agreed terms of the deal, Louis XIII Holdings Ltd., Hung's casino firm, will pay the British automaker a deposit of $2 million. The next payment will be made towards the end of the year at the amount of $3 million. The remaining $15 million shall be paid when the luxury cars are delivered within the first half of 2016.
In Britain, a Rolls-Royce Phantom costs around $734,000 including taxes. However, prices may vary depending on the market. Several customers order personalized features which also add up to the total cost of the car. There are even some who have spent over $1 million on bespoke models.
Hung, who used to be an investment banker, is known for his lavish spending habits and ostentatious displays of wealth. He now carries the title of the "world's biggest spender" after closing the deal on purchasing the 30 Rolls Royce Phantoms in a single transaction.
"Louis XIII and Rolls-Royce Motor Cars share the same philosophy: to deliver the perfect experience to the world's most discerning customers," said Hung.
Hung's new casino resort is scheduled to open in 2016. The name, "Louis XIII hotel," is inspired by the French King who is known to have started building the world famous Palace of Versailles. The resort will have a 20,000 sq. ft. villa and will be touted as the world's most extravagant hotel suite. A single overnight stay is said to cost $130,000. Interestingly, Hung has managed to enlist a direct descendant of Louis XIII who will help him with the designing of the hotel. Hung wants the design to be based on Baroque and French Renaissance styling.
Apart from the 30 luxury cars that will be used in Hung's upcoming resort, the gambling magnate already has nine cars as a personal property which includes a Bentley worth $1 million. His wife, Deborah Valdez-Hung, owns the most recognizable car in Hong Kong, a hot pink Rolls Royce. It is adorned with a vanity plate that bears the name "DEBORAH."
