Casino magnate Stephen Hung seals record order with Rolls-Royce Motor Cars CEO Torsten Mueller-Oetvoes. HONG KONG (CNNMoney)
Gambling magnate Stephen Hung is buying the luxury fleet through his casino firm Louis XIII Holdings.
The company is building a new casino in the Chinese territory of Macau, and Hung says the cars are needed to transport guests.
Louis XIII says the fleet will be the largest in the world. Two of the cars, equipped with "external and internal gold plated accents," are the most expensive Phantoms ever commissioned.
"Louis XIII and Rolls-Royce Motor Cars share the same philosophy: to deliver the perfect experience to the world's most discerning customers," Hung said.
Related: Where the billionaires are now
Hung's new casino is due to open in 2016 and will compete for a slice of Macau's riches. Gambling revenue in the territory topped $45 billion last year -- seven times larger than Las Vegas.
Hung is well known in Hong Kong for his ostentatious displays of wealth. According to a Wall Street Journal profile published late last year, the tycoon has a personal nine-car luxury fleet that includes a Bentley worth $1 million.
Related: Macau's gambling industry dwarfs Vegas
Hung's wife, Deborah Valdez-Hung, is said to be the owner of Hong Kong's most recognizable car -- a hot pink Rolls Royce. The car is adorned with a vanity plate that reads: "DEBORAH."
First Published: September 17, 2014: 6:46 AM ET
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