Why is James Packer whipping his superyacht?

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It was aboard the IJE that Packer called forward that of Patricia Bergin investigating Crown Resorts’ ability to hold a casino license in New South Wales. The yacht was in a coral-filled bay not far from Tahiti’s capital, Papeete.

And then there were the difficulties in building the thing. As revealed by Age and Sydney Morning Herald, the eruptions pushed the final construction cost to around $ 200 million, which spawned Packer’s former “Minister of Fun”. Matthew Csidei, being ousted from Packer’s Inner Sanctuary – and Packer CPH’s private company payroll – hurting a friendship dating back to school. But if the EJI hits its selling price north of $ 280 million, it could be a nice profit.

Meanwhile, there is a lot going on inside the casino operator.

Last week the new general manager Steve mccann said the gaming operator would consider leasing the group’s casinos if it were stripped of its gaming licenses following royal commissions over its operations in Victoria and Western Australia, and the continued fallout from an investigation into New South Wales.

At the same time, he rejected an $ 8.4 billion takeover bid for Blackstone in May, while more recent discussions with private equity fund Oaktree over the purchase of Packer’s stake have since ended. In results released in late August, McCann said revenue collapsed to $ 1.5 billion in the year through June 30 due to COVID-19 closures at his properties.

Closer to home, Packer is awaiting completion of construction on the $ 2.2 billion Crown Residences at Barangaroo in Sydney, where he has posted a bond for a $ 60 million split-level apartment. He plans to move to the property once it is completed. Compared to the boat, it’s really a small change.

AT SUNSET

IJE’s navigation system shows the superyacht to be in the Aegean Sea as it heads towards the Turkish resort town of Bodrum. On Wednesday morning, the 108-meter vessel was seen sailing north of Kos in the Greek Dodecanese Islands. It is expected to arrive in the glitzy port of Sanremo on the Italian Ligurian coast on Friday.

From there, he is expected to travel to the Quai des Etats-Unis in Monaco to be in the spotlight at the Monaco Yacht Show next week.

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The European summer has been a busy one for Packer, with stops on the Amalfi Coast in Italy, Sardinia, Monaco and the Ionian Islands hotspot of Corfu. Other off-the-beaten-path stops include the port of Saranda, the gem of the little-known Albanian Riviera. A farewell tour.

FINALLY THE FAME

Former Labor Senator Sam Dastyari has found the international fame he has always dreamed of. But not quite the way he expected.

Four years ago, Dastyari retired from public life when he left the Senate after being exposed in this newspaper for warning the donor Huang Xiangmo, the billionaire Chinese real estate developer, that the authorities were probably tapping his phone.

Dasher resigned in December 2017, saying the “best service” he could do for Labor was to quit. Undeniable.

This week, the Singapore government launched its Foreign Interference (Countermeasures) Bill to “strengthen our ability to prevent, detect and disrupt foreign interference in our domestic policy.”

An accompanying briefing note told reporters that “major foreigners are using funding and other leverage to get local representatives to advance their agenda.”

“In Australia, a former senator received donations from a foreign billionaire and defended the foreign country’s position on a sensitive issue of national security, contradicting the official position of his own political party.”

While Singaporeans were too polite to mention Dastyari by name, he was forced to step down from his political roles when it emerged that he appeared to be taking a pro-China line that contradicted South China Sea labor policy. after interactions with donors.

Further investigations into the then senator revealed that he authorized Xiangmo Yuhu’s real estate developer to pay one of his legal bills and asked another Chinese company, Top Education Institute, to cover their travel expenses.

Since then, Dastyari has drifted. He appeared on the popular Kyle and Jackie O’s Breakfast FM radio show, but his big shot at fame was when he stepped into the South African jungle for Channel Ten. I’m a celebrity … Get me out of here! in 2019.

Dastyari was knocked out second (must have hurt), a place ahead of the former rival senator Jacqui Lambie (it must have hurt). The show was ultimately won by an empty gossip guru Richard reid (it must really hurt).

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