Senior Sergeant Rachel Walker said on Friday police were seeking a man who they wanted to speak to about the incident at The Famous Grouse Hotel just over two weeks ago.
A group of men who were in the bar at the time of the theft are the focus of police inquiries.
It is believed they watched the woman being paid out, and then quickly swooped.
After she was paid, the men, who had been sitting nearby, went over and congratulated her. While she was distracted the money disappeared from her handbag.
She only realised it was gone after she had left the hotel.
Police have the CCTV camera footage from the hotel, which shows the men going over to the woman and mobbing her in a congratulatory way.
The footage also showed one of the men's hands moving toward the bag.
Police say they may have identified a man in the group but would not comment further on the incident or the investigation.
The Selwyn Times understands the men were from the Amberley area.
