Kerry Packer – The Amazing and Generous Gambler

Kerry Packer – The Amazing and Generous Gambler

Kerry Packer was, without doubt, one of the most influential Australian entrepreneurs from the previous century. Thanks to the fast-growing tech industry, along with the rise of global TV channels, he was able to expand globally, reaching new markets and incredible heights along the way. The Kerry Packer story is inspirational for many people, though there are his detractors. As to whether he was a great businessman and the revolutionary is entirely up to the point of view of the reader.

He Was Born Wealthy

One of the first things we should state is that Kerry Packer was actually born a millionaire. He took over the Media Empire that his father, and grandfather, had built up. Interestingly enough, Kerry had an older brother who was favored more by the father, and yet when the father died in 1972, he left nothing to the older brother and the whole media empire to his second son. The Packers had built up a huge Media Empire with over 200 companies, but that’s not what we’re writing about today.

Today we’re going to look at the man who was a prolific gambler. In fact,  Kerry Packer was one of the biggest whales to ever exist and certainly one of the largest high rollers in the history of casinos. Unfortunately, there are no jackpot winning tips or tricks to be found here, as, in truth, he was nothing more than a billionaire who could afford to be reckless and lose huge sums.

He Hated Losing

It was not just his prolific spending that made him a household name as far as gamblers go. It was the fact that, more than anything, he hated to lose. Perhaps, due to the pressures of business, or simply his “go get ’em” attitude, he saw gambling as a way of letting off some steam. In a very short time, he became famous as one of the highest rollers in the history of horse race betting. The Ritz Hotel in London had a special room just for him, where he could play Blackjack with a minimum bet of $10,000 hours per round. It’s said that over the course of his betting in London, he lost over $19 million in this room alone.

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A $150,000 Gift to a Croupier

He was a regular feature on the Las Vegas casino circuit, where he would visit casinos to win the jackpot. In particular, he loved going to the MGM Grand and playing jackpot games. Of course, being seriously Rich he once decided it would be fun to play 7 blackjack tables all at the same time. Within 40 minutes he had one himself $25 million. There are also many stories about Kerry Packer’s generosity and his kindness to the staff and croupiers employed at the casinos where he would play. One story that is often told about him was how on hearing that his croupier was struggling to pay his mortgage, Kerry Packer gave him $150,000 as a gift.

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At The Horse Races

Apart from casinos, another place Kerry loved to gamble was at the horse race track. He was a regular guest at the Melbourne Cup, and the local bookmakers were collectively afraid that he would start betting. In the 1987 Melbourne Cup, he lost $28 Million by betting on the horse Golden Slipper. He immediately demanded, or some might say, bullied his way, to an increase in the number of his bets and was able to turn his losses to wins in no time at all. Many people have commented that it wasn’t that Kerry Packer didn’t care about money, it was that he was all about winning at all cost. 

When you’re a billionaire, reversing your losses and increasing your jackpot winning chances is easier if you can afford to keep betting until the odds fall in your favor. On many occasions, he would take outrageous wages just for the possibility of coming out ahead and being the winner. Unfortunately, due to betting and table limits, you can’t place huge bets online. But you have a very good chance of coming out as a winner playing at King Billy Casino. They have a massive number of games, as well as a great welcome bonus that’ll keep you playing for longer.

Bad Health

In spite of having so much money, he never bothered to look after his health. He was in terrible shape. So much so, that in 1990 he suffered a heart attack and was literally dead for 7 minutes,  only being saved by the emergency paramedics and later on in the hospital, thanks to a heart bypass. But a heart condition was not the only serious health problem, as he suffered from serious kidney failure for years. By the year 2000, it was obvious that he really needed a kidney transplant.

Time to go

If there was ever an example of how some things cannot be bought with money it would be the story of Kerry Packer and his health. Finally, on December 26th of 2005, Kerry Packer passed away just 10 days after his 68th birthday. Weeks before this date he told his doctors that he felt the end was close and he forbade them to give him any more medication to prolong his life. He had a wonderful time and was ready to pass on to the other side.

The Media Mongol

It was Kerry Packer who really laid down the foundations for what we know today as Australian television entertainment. There nothing has changed, in that the media is still a tool of manipulation and means of controlling the masses. In this respect, there are many who would claim Kerry Packer was really no more than a manipulator of public opinion. Like Rupert Murdoch, another Media Mongol who came after Kerry Packer, it is often said that they both only cared for Australia and its citizens, for their own financial benefit.

Nine Network News

Nevertheless, Kerry Packer did leave some great things for Australia. Probably the most important of these that he’ll be remembered for the Foundation of the World Series of Cricket and this sport is probably what most people remember him for. He used his Nine Network Television Channel to offer exclusive content over many years. Today the channel is still going strong and is still relevant in Australia, even though since the death of Kerry Packer, the company has been through numerous difficult times.

Though some of these issues were related to management, others were due to slowness in the uptake of digitalization, along with failing audience numbers due to the advent of Internet News. Yet in spite of these ups and downs, by 2019 the channel was ahead in the ratings. 

The Real Legacy 

As far as leaving a legacy, Kerry Packer’s Australian story still continues to fascinate many people. Thanks to an endless supply of funds, as well as a forceful “can-do” attitude, he was able to achieve a great variety of things within his lifetime. Probably a large part of Kerry Packer’s Legacy will be the Channel Nine Network which is still available today and is one of the foundation pillars of the World Series Cricket competitions.

There are very few people before and since who are able to surpass his gambling antics, both at the casino or at the racetrack. Even though, as a high roller, he spent and lost huge sums of money on wagering, he never forgot those around him or less well off. To them, he was always thoughtful, generous, and kind. And that’s not a bad way to be remembered.

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