Sat Apr 27, 2013 6:07 pm
As we consider the financial influences that wealthy men have on our club consider about the following:
Kerry Packer. Australian Media Mogul
The difference between a millionaire and a billionaire!
Packer's forceful personality was evident in his much loved Poker and other casino games that he played. There is one story told that Kerry Packer won 20 consecutive hands of Baccarat when playing high stakes in a Las Vegas casino, each hand was $250000. Another story tells of how in 1999 Packer suffered a 3 week losing streak and lost over $28 million but in the same story it was also reported how he won Australian $33million at the MGM Grand Casino. However, the famous gambler Packer has not always been successful; he lost $16.5 million at the Crockfords casino in London, although this barely dented his $8 billion fortune.
Whether he lost or won, Kerry Packer was considered a great gambler and supporter of Australian gambling. He had many investments in casinos and owned outright the Crown Casino which is Melbourne's best. Thanks to his many contacts in government, he was able to control the regulations that the government enforced in the gambling world, to his advantage and even when he had clashes with the Australian Tax authorities, he came off relatively lightl
I remember being told of a high stakes game at the MGM Grand in Vegas when Packer needed to take a comfort break, as he was about to leave the table a Texas oil baron at the table objected and said "no one walks out on my game! " Packer casually asked him how much he was worth.....the Texan replied... "over $100 million dollars!" Packer cooly replied "I'll toss you for it!" The Texan then left.