Macau (MNA) – South Shore Holdings Limited – the company responsible for The 13 Hotel – announced that it has sold 24 of its 30 customised Rolls-Royce Phantom Extended Wheelbase luxury cars for some HK$24 million (US$3 million).
The company said in its announcement that the sale proceeds would be used to pay for the repayment of a bank loan.
South Shore previously indicated that it recorded some HK$442.3 million in losses for the six months ended on September 30, 2018 and that total group liabilities amounted to some HK$7.9 billion, of which some HK$4.09 billion represent bank borrowings due in one year.
In 2016, the company behind the hotel announced it had purchased 30 customised Rolls-Royce Phantom luxury cars designed and ordered by its former owner, billionaire Stephen Hung, for an estimated US$20 million (MOP160 million).
The Phantoms were said to be used to chauffeur VIP guests to and from the hotel and were considered the single commission in Rolls-Royce history, with two of the models said to have been built with gold and the most expensive vehicles the company had ever produced.
Now South Shore stated that it has sold the vehicles to a woman named Cai Yanping – said to not have any ties to the company – through one of its subsidiaries, Ocean Wonder Investments Limited.
Hung resigned as joint chairman and executive director of The 13 Holdings Ltd on January, 2018 with Peter Lee Coker currently being the Chairman and Executive Director of the group.
After several delays, The 13 announced the opening of its hotel operations on August 31, 2018 welcoming guests for hotel stays and private functions in some of its 200 duplex villas.
However, a 66 table casino scheduled to open by March 31 of this year has not opened yet, with no plans announced for a new official opening.
