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James
Packer interview hightlights from Channel Seven 'Sunday
Night' - Feb 2013
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James
Packer interview highlights from Channel Seven 'Sunday
Night'; Casino and gaming billionaire opens up on
life and business...
The
famous Australian billionaire James Packer has been
all over media recently in a PR push to help expand
his gaming and casino empire to a $2 billion resort
at Barangaroo in Sydney.
In
an emotional interview last week with Mike Willesee
on Channel Seven's Sunday Night program, Packer shed
tears and bared some of his soul in a bid to garner
public support for the ambitious bid.
Highlights...
One.Tel
Packer
lost $380 million in the collapse of One.Tel and he
told Willesee he became a recluse after the failure
of the telecommunications company 13 years ago.
"There
is no doubt One.Tel was a terrible investment and
something that I regret greatly," he said.
"I
became depressed and I was emotionally exhausted and
my marriage had broken up. I felt isolated, I felt
like a failure. Obviously it was not a great time
in my life."
Packer
said he managed to turn himself around by turning
to friends such as Tom Cruise and to Scientology.
"Sometimes
you need time and sometimes you need some new influences
in your life and that was what happened to me at that
point," he said.
2.
Murdoch's relationship
Packer
said he would respect the Murdoch family "till
the day I die" for their understanding after
the failure of One.Tel.
"It
was a lot of money and I was leading it and the Murdochs'
were investors as well at my behest. And so I felt
a large degree of responsibility for the fact that
was a failure for them as well," he said.
"I
will, till the day I die, respect and appreciate the
way both Lachlan and Rupert were as kind to me as
they were."
3.
China's potential
Packer
sees China as the golden goose for nations around
the world.
He
has invested heavily in Macau, just off mainland China,
the gambling capital of the world and has based his
bid for Barangaroo on China's potential.
"I
am a believer that the rise of the Chinese middle
class is going to change the world," he said.
"I
think that for Australia it's an enormous opportunity
and I think that Sydney should have something that's
better than anything, anywhere. I think the right
thing in Sydney is the opportunity for a real win-win."
Noticeably,
Packer managed to avoid any questions about actually
obtaining the Barangaroo casino licence.
4.
Relationship with his father
Kerry
Packer built the Packer empire and had a lasting influence
on his son, with Packer saying "it was a huge
privilege" to be his son.
"My
father was an amazing man. No person is perfect and
no father-son relationship is perfect," he said.
Packer admitted Kerry had "a good temper"
and was a "larger than life character" who
"could be terrifying" but said their relationship
ended on a good note with a phone call from Kerry
before his death.
"He
wanted me to live my life my way and never think about
what he would have done or what he would have wanted
to do. So it was a strange call and, anyway, it was
a lovely call."
5.
On the good times
Packer
took his father at his word and sold the family's
stake in Channel Nine before investing heavily in
casinos. His gamble has paid off, with Crown's share
price soaring Packer's private investment vehicle,
Consolidated Press Holdings, increased dividends by
almost 20% to $143 million in 2011-12.
Packer
was playing down his recent success.
"You're
never as good as they say on your good days and never
as bad as they say on your bad days," he said.
"It's
more than just money.'
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