Casino Mogul James Packer Moves to Cabo San Lucas, Mexico
Australian gaming billionaire James Packer has “purchased land in Cabo San Lucas” to build a villa. The 50-year old Packer, biggest shareholder of Crown Resorts, plans to make the Mexican villa his permanent home.
The Daily Telegraph noted, “The casino owner plans to build himself a luxury new villa overlooking the Sea of Cortez.”
Cabo San Lucas became a favorite vacation spot for James Packer during the time he was engaged to the American pop diva, Mariah Carey. She introduced him to the area and it is now a refuge for Packer, who resigned from Crown Resorts’ board of directors in April.
The Cabo area is famous for its sandy beaches and picturesque seascapes, as well as its nightclubs and resorts. One can assume James Packer and friends will spend their time relaxing in tropical paradise throughout the summer of 2018.
Boston Psychiatric Hospital
After leaving his family’s Australian casino company, James Packer checked himself into a psychiatric hospital in the Boston area, McLean Hospital in Belmont. After a short stay in the hospital, James Packer checked himself out and traveled to Argentina, according to various media reports. Not long after, he reappeared in Cabo San Lucas alongside reported girlfriend Kylie Lim and a small entourage.
James Packer has sprawling estates throughout the world. There is the $57 million Colorado estate he bought when he was with his ex-wife, Erica Packer. Packer has an apartment in Sydney’s Bondi Beach which cost $20 million, which he rents out to tenants for $7000 a week. He owns the Ellerstina polo ranch in Argentina.
Crown Resorts Career
James Packer took control of Crown in 2005 when his father, legendary media mogul Kerry Packer, died. The son divested himself of his father’s media empire in order to focus on his father’s casino business. Assets included Crown Melbourne, Crown Perth, and a 33% stake in Melco Crown, a Macau gaming venture alongside Lawrence Ho.
By 2007, James Packer was investing in a Las Vegas casino, Fontainebleau Resort. Then the Global Recession happened. Fontainbleau went backrupt, while casino ventures were hit hard by the recession-damaged global economy. By 2010, James Packer’s wealth shrank from $7 billion to $3 billion.
Melco Crown Holdings
Macau saved the fortune. The Chinese economy weathered the recession better than all others. In many ways, it flourished. As China developed the largest middle class the world had ever seen, Macau’s casino economy boomed. By 2013, Macau’s gaming revenues were 7 times those of Las Vegas. Melco Crown’s City of Dreams Macau and Altira Casino boosted Crown shares. The Studio City project on the Cotain Peninsula was underway. James Packer was back on top.
In 2015, he suddenly left his role as chairman of Crown. Months later, he resigned from the board. It was learned he was dating Mariah Carey. In 2016, they announced an engagement. Only an advertising scandal in China brought James Packer back to the board in December 2016, when the company sold most of its shares in Melco Crown.
Engagement to Mariah Carey
Packer appeared to be back in control. Even when his engagement was called off with Carey, James Packer seemed to have a vision for Crown’s future. Then suddenly in March 2018, Packer resigned from the company he holds a 47% stake in. He checked himself into McLean Hospital in Belmont, Boston.
Mariah Carey has a Las Vegas act these days. Australia newspapers claim she is having trouble selling out shows. They also reported she sold the engagement ring given to her by James Packer for AU$2.7 millon (US$2.1 million). The two spoke highly of one another after their breakup, though James Packer said the engagement was a huge mistake for both of them.
About Cabo San Lucas
If someone wants to relax and get away from the stresses of life, Cabo San Lucas is a good place to begin recovery. Located at the south tip of the Baja California Peninsula on Mexico’s Pacific Ocean coastline, Cabo San Lucas is a favorite destination of American vacationers. Medano Beach is only the most-frequented beach in the area.
The Los Cabos Corridor is home to several resorts, including Esperanza, The Resort at Pedregal, Las Ventanas al Paraiso, and One&Only Palmilla. Nightclubs dot the landscape, including Pink Kitty Nightclub, El Squid Roe, Nowhere Bar, The Usual Suspects, Tiki Bar, the Jungle Bar, the Giggling Marlin, and Mandala. American rocker Sammy Hagar of Van Halen fame owns a bar in the city of 81,000 people: Cabo Wabo Cantina.