Inside Move: It’s not in the cards for Packer

Mogul loses $20 mil in Vegas

SYDNEY — The Midas touch of Australian media mogul and gambling enthusiast Kerry Packer failed him last month, when he lost a stunning $20 million in three days of playing baccarat at Las Vegas’ Bellagio hotel.

He lost around $17 million at blackjack in September in the U.K., reportedly the biggest gambling losing streak in British history.

But it’s not all bad news on the gaming front for Packer. In the fiscal year ended June 30, Packer’s Publishing and Broadcasting empire earned revenues of $1.4 billion, with $600 million of that coming from the PBL-owned Crown Casino in Melbourne.

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