Two Way Hard Three | Las Vegas Casino & Design Blog
December 26, 2005
Casino Patron/Developer Packer Dies
Posted by HunterKerry Packer, Australia's richest man and a frequent customer of Las Vegas casinos has died. Famous for supposedly paying off a cocktail waitress' mortgage with a tip, Packer was also developing Macau casinos with partners in the SAR.
Details: Australia's Packer Dies
This could have an impact on MGM MIRAGE's cash flow. Packer was a consistent contributor to their bottom line at Bellagio.
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Recent Comments
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- detroit1051 recently commented "The "Norm" column in today's Las Vegas Review Journal confirms some of the ..." in Casino Patron/Developer Packer Dies
- Mike E recently commented "This is very sad news. He's responsible for some of Vegas' most unbelievab..." in Casino Patron/Developer Packer Dies
- Doug recently commented "The details of Packer's 1997 2 hour visit to the MGM are not fully known. J..." in Casino Patron/Developer Packer Dies
- detroit1051 recently commented "I've been reading John L. Smith's "Sharks in the Desert," and just came to ..." in Casino Patron/Developer Packer Dies
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Comments
I've been reading John L. Smith's "Sharks in the Desert," and just came to the page which said that Kerry Packer once hit the MGM Grand for $20 million playing blackjack and baccarat for 45 minutes.
Packer has been working with Stanley Ho on Asian casinos. I wonder how his death will affect that relationship. Late reports say that Packer's 38 year old son, James, will take over the business, but there are mixed comments on his ability.
The details of Packer's 1997 2 hour visit to the MGM are not fully known. Just about everyone has a different story of what happened. -- In Lyle Stuart's book on baccarat he writes that in '97 Packer won $24 million alternating between baccarat and blackjack. And as a result MGM president Larry Woolf was fired by Kirk Kerkorian, but not before Woolf was dispatched to Australia to inform Packer that he was not allowed to play at the MGM ever again.
This might have been a bad move by the MGM as Packer reportedly lost $20 million (in one session) a year or so later at Bellagio.
This is very sad news. He's responsible for some of Vegas' most unbelievable stories.
MGM's shareholders are consistently mentioned that night he took them for 20 million. Apparently, that occured at the end of a quarter and the stock actually took a significant hit from his wins.
The "Norm" column in today's Las Vegas Review Journal confirms some of the stories about Kerry Packer's visits and heavy tipping. It's on the RJ website at:
http://www.reviewjournal.com/lvrj_home/2005/Dec-29-Thu-2005/news/5116535.html