The empire of billionaire James Packer
August, 08 2015
The famous media mogul James Packer was obviously blessed with a large pinch of luck in his early childhood. The billionaire inherited the media empire of his father Kerry Packer and used this as a basis to build his own empire. This was luck that was needed at this time and it so far seems to have remained loyal to the billionaire. In 2005, the businessman took over the management of the media company of his late father, which is known under the name of Press Holdings Limited. The two main pillars of the company, Channel Nine Australia and Consolidated Press were sold by Packers shortly after, in order to be able to build his own empire namely the gaming and tourism business Crown Resorts with the proceeds.
While Packer foresaw a difficult future for the media industry already at that time, he on the other hand saw a bright future in the gaming and tourism industry and apparently he was right. He made Crown Resorts to become the largest entertainment and resort group in Australia and stood alone as an empire. For the billionaire his success today did not just happen because of a good decision, but also because the Internet made sure that the traditional media has become increasingly difficult in this day and age.
Place 291 of the richest people in the world
Even with the help of gambling, Packers made it through the crisis, because he gambled away with some casino deals. Even gambling suffered from the financial crisis, however, has currently recovered, thereby Packer can be found at No. 291 of the richest people in the world. In Australia, Packer is considered the fourth richest citizens. In the future, Packer is planning his gambling empire to continuously increase and with this to drive its enterprise value in the height.