James Packer

James Packer

Name: James Packer

Country: Australia

Date of birth:08.09.1967

Type of business: Casinos

Main achievements: Packer holds the largest shares of Crown Resorts that has casinos in London and Australia. Crown resorts in Australia attract nearly 31 million visitors every year. He appeared on Forbes list of billionaires in 2019, ranked 9 among %0 richest Australians. According to Business Review Weekly, Packer was the third-richest Australian in 2008. He has a net worth of $3 billion, as of 2020.

Something interesting about James Packer

James Packer was engaged to the American singer Mariah Carey for a brief period of time. However, the couple broke off and as per the reports, James paid Mariah a settlement.

Biography

James Douglas Packer was born on September 8, 1967 and is the son of Roslyn Packer, andthe great media mogul, Kerry Packer. He is a renowned investor and businessman. He fell heir to his the control of Consolidated Press Holdings Limited, his family company. Moreover, he inherited shares in other companies, including Crown Resorts. He formerly served as the Executive Chairman of Consolidated Media Holdings and Publishing and Broadcasting Limited (PBL). These media houses dominated a vast range of media interests. He also served as Crown Resort’s Executive Chairman. Suring 2006 and 2007, Packer was the richest Australian. James received his early education from Cranbrook School. After high school, he joined his father’s Newcastle Waterscattle station to begin working there as a jackeroo. According to Packer, since he didn’t have the marks, he did not go to university. He stated his father and Albert J. Dunlap, a corporate executive, to be his mentors.

After dotcom crash of 200-2001, Packer gained holdings of online classified sites’ shares. In 2005, Packer urged Australian Consolidated Press, a magazine group that was then controlled by his family, to take 41% stake in Carsales, an online advertiser. The deal was made at A$462 million. In 2006, Packer began to consider selling Australian Consolidated Press magazine and Channel Nine in order to invest into his tourism and gaming business. The rising spread of pay-TV and internet, Packer became concerned for the future of traditional TV. In 2006, it was decided to sell 50% shares of media asset. Packer’s subsequent decisions of selling shares from his family property led him to completely lose his CVC ownership. Moreover, Parker directed One.Tel, an Australian Telecommunication company. During 201, it was announced insolvent. In a general meeting of PBL, Packer accepted that the fall down of One.Tel had taught him painful lessons. In 2014,he made a A$40 million settlement with Lachlan Murdoch over the collapse of One.Tel. The Supreme Court of New South Wales approved this settlement. After his father’s death, Packer shifted his focus from the family business to Crown Resorts, the global gambling empire. It runs two resorts in Australia, Crown Perth and Crown Melbourne. These resorts are presented with villas, gambling spaces, spas, restaurants, pools, and live entertainment areas. In London, Crown Resorts runCrown Aspinall’s.

Other than this, in 2010, Packer acquired 18% stake in Network 10. Half of the stakes were offloaded to Lachlan Murdoch. However, three months later, he stepped down from his board seat due to a dispute with Murdoch. Packer was also reported to make a A$80 million investment in Scoopon, a daily deals site, and Catch of the Day. Nevertheless, Crown resort is about to establisg Crown Sydney, which will amalgamate Crown Melbourne and Crown Perth to make Australia’s third joint resort. It will be featuring the city’s very first six-star hotel, and its tallest building consisting of 75 floors. The high-end resort will provide casino areas accessible by casinos members and guests exclusively, and 350 guestrooms.

James Packer has set afloat a fund of $200 million to back the education of Indigenous education and art. A sum of $100 million will be exclusively provided for art-supporting organization. An equal amount will be spared for the broader community.

Links to articles related to James Packer

https://www.forbes.com/profile/james-packer/#1f76966c6de5

https://www.casino.org/news/crown-resorts-billionaire-james-packer-doing/

https://www.abc.net.au/news/2014-07-22/packers-launch-200m-national-philanthropic-fund/5614840