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Media mogul and gambler Packer dies
[December 28, 2005]

Media mogul and gambler Packer dies


(The Racing Post)KERRY PACKER, the Australian media mogul and legendary gambler, died at his home in Sydney on Monday night at the age of 68.

Among the latest business deals overseen by Packer was a joint venture with his publishing company, PBL, that is set to establish Betfair as an offshore gaming operator in Australia.

Within the sporting arena, Packer is best known for revolutionising the game of cricket, but racing was also a passion and among the successful horses he part-owned were Mahogany, winner of the 1993 Victoria Derby and 1994 Australian Derby, and Merlene, who won the 1996 Golden Slipper.



As AustraliaOs richest man and listed by Forbes magazine as the 94th richest man in the world with a pounds 2.8 billion fortune, Packer established a reputation as a fearless gambler both in casinos and on the racetrack.

He famously offered to toss a coin for the $50 million a Texan oil magnate, who was annoying him at a roulette table, had bragged to be worth, and is also said to have lost A$30 million to an Australian bookmaker who, when Packer started winning it back, told him he had made enough money to retire.


Among the tributes to Packer, Australian prime minister John Howard said: OHe was a great Australian, he was a larger-than-life character, and in so many ways left his mark on the Australian community over a long career in business.O

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