Packer lists super yacht IJE for sale

by Ethan Anderson Last Updated
Packer lists super yacht IJE for sale

Crown Resorts majority shareholder and billionaire James Packer has put his 108-metre yacht on the market.

The Australian Financial Review reports that the luxury yacht, named IJE for the three children Packer has with ex-wife Erica Baxter – Indigo, Jackon and Emmanuelle, appeared on the website of British luxury yacht brokers Burgess in mid-September.

For $282 million, prospective buyers are promised a “timeless sculptural exterior from the board of sought-after Redman Whiteley Dixon, and a relaxed beach house-style interior by Italian shipbuilders Benetti.”

IJE is said to accommodate 22 guests in 11 suites.

It also boasts a private owner’s deck, a pool with bar, a bridge deck with a firepit, a cinema, nightclub and a range of 6,500 nautical miles between refuels.

The yacht was only delivered to Packer in 2019, although his world has turned upside down since then.

Crown Resorts, his 37 per cent in which represents the majority of his wealth, is battling to resin its licences for the casinos it operates in Victoria and WA and must still convince NSW regulators it is fit to run the high-roller facility it planned for Sydney’s Barangaroo.

Crown’s travails, alongside COVID-19, have dented the value of Packer’s stake.

However, it is thought his sale of IJE has more to do with personal arrangements than financial emergency.

Packer is currently building a house in the Mexican resort town of Cabo San Lucas, scheduled for completion next year, which will put him closer to Baxter and his three kids, who live in Los Angeles.

Despite beaming in from IJE to last year’s NSW inquiry into Crown’s casino licence, while floating off Tahiti, Packer has spent much of the past 12 months dividing his time between LA and Colorado.

In this context, Packer may not have as much time for cruising the seas of Europe, as he wanted to do in IJE.

Speculation has also swirled around why Packer has not settled on his two-level $60 million apartment in Crown’s Barangaroo development.

It is understood liquidity worries are not a concern here either and that Packer is simply waiting for construction to finish on the abode before he settles on the purchase.

Packer sought to cover WorkCover costs following 2016 incident

Crown Resorts’ billionaire major shareholder James Packer is being pursued for more than $300,000 in damages by a Victorian workers’ compensation authority.

Reports surfaced that following an alleged assault of a security guard at Melbourne’s Crown Casino, WorkCover, the state’s workers’ compensation scheme, is seeking $326,834.55 in compensation and medical costs to a former Crown security guard who accused Mr Packer of assaulting him before threatening to have him sacked on New Year’s Day in 2016.

The state-run WorkCover authority is now pursuing Mr Packer and Crown to recover these costs, which it indicated would continue to grow.

The former security guard, Iskandar Chaban, alleges Mr Packer became verbally abusive and threatening, ran towards him, pushed him in the chest and said words to the effect, “I will throw you out of your job,” on New Year’s Day in 2016.

According to the state of claim filed in Victoria’s Supreme Court, Dr Chaban says he did not recognise Crown’s long-serving executive chairman as he approached the main gaming floor at Crown Towers Melbourne with senior colleague Ishan Ratnam.

Dr Chaban said he thought the casino mogul may have been intoxicated at the time.

“The worker observed Mr Packer, a person previously unknown to the worker, approaching him and formed the view that Mr Packer was intoxicated,” the writ says.

“Mr Packer became verbally abusive and threatening towards the worker and ran towards the worker pushing him in the chest. Mr Packer then verbally threatened the worker saying words to the effect, ‘I will throw you out of your job.’

“Dr Chaban was subsequently escorted to an office where the management staff of Crown verbally abused, humiliated, intimidated and bullied the worker,” the writ added.

Back to top