PENNY WISE & ROD FOOLISH!

He ignores her warnings to lay off the sauce

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Rod is living it up while performing his residency at The Colosseum at Caesars Palace in Las Vegas

HELLRAISER Rod Stewart is ignoring warnings from pals and wife Penny Lancaster as he chugs booze in Las Vegas — triggering new fears for his health and his marriage, tattle sources.

The 80-year-old Do Ya Think I’m Sexy? legend is currently based in Sin City, performing decades of hits before packed audiences, but when he’s not onstage belting out hits, he’s belting down large amounts of booze, leaving his long-suffering 54-year-old wife at her wit’s end.

“Rod’s drinking has always been a concern but lately it’s reached a whole new level. He’s rarely without a glass in his hand when he’s in Vegas,” spills a source.