Chinese gambler splurges AU$190,000 on Penfolds

A millionaire Chinese gambler fresh from a hot winning streak at an Adelaide Casino splurged close to AU$190,000 (US$142,630) in cash on more than 200 bottles of Penfolds’ wines including regular and magnum bottles of Grange.

The receipt of the Penfolds buying frenzy (Source: The Advertiser)

His buying frenzy shocked store staff and witnesses when the millionaire pulled out 18 bundles of green notes all in crisp AU$100 notes from a plain black plastic bag last Sunday, reported The Advertiser.

It is understood that the millionaire did not want to send the money home, and instead he and his friends made a whirlwind trip to Penfolds’ Magill Estate retail shop.

“They were very big piles of cash, it just kept coming,” one witness said. “We were then wondering at what point was he going to stop spending.

His purchase included 40 bottles of 2009 Grange, and cases of 2012 and 2013 Grange. Among his haul, he also bought a vertical of Grange dating back to 1963 as well as 16 Grange magnums, in addition he bought several other popular Penfolds premium reds such as St Henri, 2004 ‘Block 42′ and 1945 ‘Grandfather’ tawny.

The money was believed to have won from playing Baccarat card game, a popular game among Chinese at casinos. The spree cost the millionaire a total of AU$187,750 including AU$17,100 in taxes.

Penfolds is among one of the most known and popular wine brands in mainland China, which has become the most lucrative market for its parent company, Treasury Wine Estates, and Australia in general.

Australia has become a popular tourist destination among Chinese. In the year leading up to February this year, about 1.4 million Chinese tourists visited Australia, outnumbering New Zealand for the first time, according to Australian Bureau of Statistics.

The swelling number also comes with economic spending prowess. Chinese tourists spend the most of any group in Australia, giving a boost to Chinese-favoured destinations.