"the first generation clears the land. the second generation clears the debt. the third generation clears the assets".
"For James, money is a measure of his self-worth and a scorecard of his success. His self-esteem is the net present value of his assets, says one old friend..."http://www.news.com.au/story/0,27574...007146,00.htmlIt seems he is obsessed with the amount of money he has lost. And why wouldn't he be? In the last 12 months, (as of nov 2008)he has lost his top spot as Australia's richest man and has waved goodbye to more than half his $6.2 billion fortune. Mr Packer has been bleeding wealth at the rate of $6000 a minute, $360,000 an hour, or $8.6 million a day. And that's just the average.
http://www.news.com.au/business/stor...39-462,00.htmlPacker sees dice go gamblers' way
MELCO Crown Entertainment - the Macau casino joint venture between the James Packer-backed gaming group Crown and Asian businessman Lawrence Ho - has sunk to a first-quarter loss amid what it has described as an "abnormally high win rate" by gamblers.
The company has also reaffirmed a June 1 start date for its new casino, despite reservations expressed by some analysts yesterday about the timing of the opening amid the current economic malaise.
Melco - 36 per cent owned by Crown - recorded a bottom line net loss of $35.3 million in the March quarter, compared with a $43.2 million profit for the same period last year, The Australian reports.