Crown Resorts has been the jewel in the Packer crown, and its success has left James significantly richer than his father ever was. For as much as Packer wanted to succeed where his father had been toasted, hosted and welcomed, James has only lost on his visits to the Strip.Īustralia, on the other hand, has offered him winning opportunities time after time. In addition, he bought stock in three casino companies and is reported to have lost some $547 million on those investments. James invested in two resorts in Las Vegas that were then under development neither was completed, and he is said to have lost over $500 million. In Las Vegas, however, Packer did not have any of his childhood playmates to rely on, leaving him very much like his father after a bad trip: in essence, a loser. He wanted to stay on the other side of the table. With one caveat: James Packer didn’t want to risk losing. The excitement and the attention his father generated must have impressed the young Packer it has seemingly been one of his life’s goals to be like his father, rich and respected. Sometimes he took his son, James, with him on these jaunts. Gambling operators loved him when he lost and feared him when he was winning – when he won, it tended to strain the finances of the unlucky casino. Kerry liked London, Las Vegas and any other place he could find someone willing to book his bets. Packer was a no holds barred, winner-take-all kind of gambler.
It is said he once offered to flip a coin – winner take all – for $100 million with a Texan who had bragged that his net worth was $100 million. He was a high roller, a whale, willing to win or lose 30, 40, even 50 million dollars at a time. Packer was famous for his gambling junkets. Media mogul Kerry Packer, the father of Australian casino king James Packer, was a gambler, and, when he died in late 2005, Australia’s richest man.
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