Kerry Packer: The Extraordinary Journey of Australia’s Most Notorious Gambler
Kerry Packer stands as a towering figure in Australian history, recognized not only for his dominance in the media industry but also for his outsized presence in the worlds of gambling, sport, and philanthropy. Famous for his shrewd business instincts and notorious high-stakes bets, Packer left an indelible mark on many facets of public life, from revolutionizing cricket to transforming casino fortunes. This deep dive explores the remarkable career, personal trials, and legendary gambling exploits of Kerry Packer—the man who once single-handedly shook the world’s biggest casinos.
Formative Years: Struggle and Resilience
Kerry Packer was born in December 1937 in Sydney, Australia, to Sir Frank Packer—a well-known media magnate—and Gretel Bullmore. His formative years coincided with World War II, a period rife with uncertainty and fear, particularly after the Japanese submarine attacks on Sydney Harbor in 1942. As a result, his parents sent young Kerry to the countryside town of Bowral for safety.
His time in Bowral was marred by a battle with polio, which confined him to a hospital bed for nine months and delayed his education. Upon recovery, he spent a further two years in Canberra rebuilding his strength. These early health challenges and disruptions in schooling left Kerry at an academic disadvantage, compounded by undiagnosed dyslexia. His struggles at school resulted in a distant relationship with his parents, particularly his strict and demanding father.
Despite the emotional difficulties, Packer maintained respect for his father, once describing him as “a strong man” and “a just man” in interviews. However, accounts from others painted a picture of Sir Frank as a forceful figure—sometimes to the point of cruelty. Kerry’s challenging upbringing and complex family dynamics would later fuel his drive for success.
Frank Packer. [Image: The Australian Media Hall of Fame]
Inheriting and Expanding a Media Empire
Kerry Packer inherited his father’s substantial media business after Sir Frank’s death in 1974, overtaking what was then Australia’s largest cross-media empire. He was not the initial heir apparent; however, a falling out saw his older brother Clyde removed from the will, cementing Kerry’s place at the helm.
At age 37, Packer found himself in charge of AU$100 million worth of assets, including prominent TV networks, radio stations, regional newspapers, and leading magazine publishers. Rather than merely riding on legacy, Kerry proved himself as a savvy businessman, expanding the family fortune into new sectors such as property development and cattle ranching.
Packer’s legendary business acumen was on full display during his most famous transaction. In 1987, at the zenith of television station valuations, he sold The Nine Network to Alan Bond for a breathtaking AU$1 billion. Just three years later, when Bond’s finances faltered, Packer reacquired the network for AU$200 million—securing a windfall profit of AU$800 million in one of Australia’s most remarkable business deals.
Alan Bond. [Image: Twitter/smh]
Strategic timing and shrewd negotiations typified Packer’s career, ultimately making him the wealthiest Australian of his era and ranking him among the world’s financial elite, with an estimated net worth surpassing $5 billion and land holdings comparable to the size of Belgium.
Transforming the World of Cricket
Kerry Packer. [Image: NZ Herald]
Perhaps no single individual altered the course of international cricket more than Kerry Packer. By the mid-1970s, cricket was widely viewed as a slow, unprofitable sport. Players earned meager salaries, and audience engagement was waning.
Seeking broadcast rights for Australia’s 1976 test matches, Packer faced rejection from the Australian Cricket Board—despite his lucrative proposal. Undeterred, he responded by launching his own venture: World Series Cricket. By recruiting leading international stars, such as England’s Tony Grieg, and assembling competitive teams for a newly formatted series, Packer ushered in a cricketing revolution during the 1977–1979 seasons.
Image: Twitter/Patrick_Skene
World Series Cricket broke with centuries of tradition. Five-day matches gave way to fast-paced one-day games, day-night fixtures became the norm, and players donned colorful uniforms and used safety helmets. Salaries increased dramatically, forever changing athletes’ livelihoods. After the dust settled, Packer’s Channel Nine secured an exclusive broadcast agreement along with unprecedented marketing rights. To this day, the game’s evolution and commercial success trace directly back to Packer’s visionary influence.
His contributions did not go unnoticed. When news broke of his death, cricket matches paused for moments of silence to honor his legacy.
The High-Stakes Life: Packer’s Casino Legacy
With immense wealth at his disposal, Kerry Packer earned global renown as one of the boldest gamblers ever to grace casino floors. His favorite game was baccarat, and his name struck both hope and terror into the hearts of casino managers from London’s Crockford’s to Las Vegas’s MGM Grand and Bellagio.
At Crockford’s, Packer set the record for Britain’s largest gambling loss: $16.5 million over three days—surpassing a previous high of $13 million lost at the same casino. Yet he was just as capable of epic wins. In one memorable session at the MGM Grand, he accumulated $20 million in less than an hour, placing simultaneous $250,000 bets across eight separate tables.
Image: news.com.au
Packer’s swings could make or break a casino’s balance sheet almost overnight. On multiple occasions, casino executives discreetly requested he take a break while they absorbed their losses. Meanwhile, winning streaks sent shockwaves through casino parent companies, with repercussions stretching all the way to the stock market.
Packer was equally famous for his extraordinary generosity toward casino staff. He was known for tipping lavishly—once buying a valet a new car, another time clearing a cocktail waitress’s $130,000 mortgage. On many occasions, he would place five- or six-figure bets for dealers, allowing them to share in his luck. Stories of his charity abound, testifying to his reputation as the biggest tipper ever seen in Las Vegas.
Kerry Packer’s wit matched his bankroll. One famous anecdote recounted by Mirage Resorts President Bobby Baldwin involved a braggadocious Texan boasting about his own $100 million fortune. Packer, unfazed, offered to “flip a coin for it”—a signature move that left a lasting imprint on the gambling world.
The Final Years and Legacy
Despite his bravado, Packer’s health was fraught with difficulties. He suffered at least four heart attacks, one of which left him clinically dead for seven minutes during a polo match. A grateful survivor, Packer contributed AU$2.5 million to ensure every New South Wales ambulance was equipped with life-saving defibrillators.
Later, chronic kidney disease threatened his life until his loyal helicopter pilot, Nick Ross, donated a kidney. Packer’s determination kept him active in business and philanthropy until his passing on December 26, 2005, at the age of 68.
Australia honored him with a state memorial at the Sydney Opera House. He was survived by his wife Roslyn, son James, and daughter Gretel, to whom he was deeply devoted.
Continuing the Packer Legacy
Image: Famous Entrepreneurs
Nearly two decades after his death, Kerry Packer’s influence still looms large. Cricket continues to embrace short-form excitement and broad TV appeal thanks to his innovations. His son James Packer pursued the establishment of Crown Sydney, a glittering casino project, helping to cement the family’s connection to the gaming world.
While Australia’s casinos may see many high-rollers, few—if any—can match the mystique or impact of Kerry Packer. As industry veterans have said, he was a gambler in a league entirely his own.
Lead image: Inside Story
