Kerry Francis Bullmore Packer AC (17 December 1937 – 26 December 2005) was an Australian media tycoon, and was considered one of Australia’s most powerful media proprietors of the twentieth century.
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Packer is quoted for an exchange in a poker tournament at the Stratosphere Casino, where a Texan oil investor was attempting to engage him in a game of poker. Upon the Texan saying “I’m worth $60 million!”, Packer apparently pulled out a coin and asked nonchalantly, “heads or tails?”, referring to an A$120 million wager (according to Bob Stupak’s biography). Some variations of the story put the sum at A$60 million to A$100 million and say the line was “I’ll toss you for it”.
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Gambling
Packer was a long-time heavy smoker and an avid gambler, fabled for his large wins and losses. In 1999, a three-day losing streak at London casinos cost him almost A$28 million – the biggest reported gambling loss in British history.
Once he won A$33 million at the MGM Grand Casino in Las Vegas, and he often won as much as A$7 million each year during his annual holidays in the UK. Packer’s visits were a risky affair for the casinos, as his wins and losses could make quite a difference to the finances of even bigger casinos. Packer was also known for his sometimes volcanic temper—and for his perennial contempt for journalists who sought to question his activities.
In the late 1990s, he walked into a major London casino and played £15 million on four roulette tables on his own and lost it all. This has been confirmed by casino owners in South East England.
Former PGA professional John Daly said on the Full Send Podcast that Packer closed down the Desert Inn Casino (which was replaced by the Wynn Hotel) by winning 52 million dollars in one day and insisting they pay him in cash, as the previous day when he lost 8.2 million dollars they insisted he pay them in cash.
The Ritz Hotel in London even had its own room for Kerry Packer. There he was able to play blackjack with a minimum bet of £10,000 per hand. He once lost more than £19 million in this room.
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