Packer bucks family fortune prophesy

It’s often said that the first generation builds the business, the second makes it a success, and the third wrecks it.

But this doesn’t look like the way that James Packer is going.

Last week the billionaire casino owner announced a plan to split his Crown Resorts company into three separate companies in a deal that is expected to unlock between A$4.5 billion ($4.72 billion) and A$5.5 billion in value for shareholders, not least Packer himself.



James Packer and singer Mariah Carey. Photo / AP

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