James Packer Sells Aspen Mansion for Nearly $43M

Former casino magnate James Packer has sold his Tuscan-inspired mansion in Aspen for almost $43 million.

The Wall Street Journal was first to report that the 59-year-old Packer made a substantial return on his Colorado estate in the West Buttermilk neighborhood of Aspen.

The Crown Resorts founder and longtime chairman and CEO bought the 15,000-square-foot stone residence with his then-wife, Erica Packer, in 2013 for $15.6 million. After listing the property in early summer for $48.9 million, property records show that Packer took $42.68 million.

The WSJ reports that the buyers are Alex and Lindsay Davis.

Alex’s father, Marvin Davis, was an oil tycoon who bought 20th Century Fox in the early 1980s. The elder Davis’ business empire additionally included the Pebble Beach Golf Links and the Aspen Skiing Company, the latter of which operates the Aspen Snowmass ski resort.

Packer Fortune

Packer made a nice profit in Aspen, but he took a hit with his real estate investment in Beverly Hills.

In 2025, Packer sold his Beverly Hills compound for $60 million. The sale price for the 32,000-square-foot mansion was about $3.8 million less than the billionaire paid for the property in 2018. Packer had initially listed the home in 2023 for $85 million before reducing the asking price to just shy of $70 million. The buyer eventually talked Packer down another $10 million.

Forbes puts Packer’s real-time net worth at $3.6 billion. Packer inherited a fortune from his grandfather and father, Sir Frank Packer and Kerry Packer, media proprietors who controlled the Australian Consolidated Press. Kerry was responsible for forming Crown Resorts and entering the family business in the Australian gambling industry.

James used his business acumen to greatly grow the family fortune. Through Crown’s partnership with Melco International, Packer was among the early gaming concession holders in Macau, the world’s richest gambling market.  

Packer expanded Crown’s business in Australia, fulfilling his father’s wishes of running a casino in Sydney by way of Barangaroo.

Scandal and controversy, however, have overshadowed Packer’s recent years. Packer stepped down from Crown in 2018 after government inquiries in Australia determined he had too much influence on the company. He later sold off his stake in the company and publicly conceded struggles with his mental health.  

Latest Venture

In recent media appearances, Packer says he’s doing better than he has in years. The businessman recently completed his latest investment, an ultra-exclusive destination called The Beach Club in Barbuda.

The 400-acre resort and residential community was developed in partnership with actor Robert De Niro. The hotel component is called the Nobu Beach Inn. De Niro is a part-owner of the Nobu brand. Crown also held a stake in Nobu until the casino company was sold to private equity firm Blackstone in 2022.

The Beach Club was built on Princess Diana Beach, named after the late princess who visited the beach many times.