James Packer Sells Beverly Hills Compound for $60 Million, Moves Near Mar-a-Lago

Posted on: May 2, 2025, 09:58h. 

Last updated on: May 2, 2025, 10:08h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • James Packer has sold his Beverly Hills estate for $60 million
  • Packer, the founder of Crown Resorts, bought the property in 2018 for $63.8 million
  • Packer was previously engaged to Mariah Carey

Billionaire James Packer, the founder and former chairman and CEO of Crown Resorts, has found a buyer for his Beverly Hills compound.

James Packer Beverly Hills home Crown Resorts
James Packer has found a buyer for his Beverly Hills compound. Packer is relocating to Florida after selling his Los Angeles home for $60 million. (Image: Getty/Casino.org)

Packer’s former estate at 1029 Ridgedale Drive in Beverly Hills with the esteemed 90210 zip code was sold this week for $60 million. Packer first listed the home in 2023 for $85 million. The sale price was $3.8 million less than what the 57-year-old Australian paid for the home in 2018.

The buyer wasn’t immediately identified. The 1.2-acre property has 12 bedrooms and 18 baths spread across 32K square feet of indoor living space.

Among the many amenities are an outdoor pool and spa with a pool house, an outdoor dining area with an al fresco kitchen, several garages capable of accommodating 11 cars, a game and billiards room, a cigar room, a wood-paneled wine room, a theater, and a fitness center. 

James Packer Beverly Hills home Crown Resorts
(Image: MLS)

Packer, Crown Downfall

Few personalities in the global gaming industry have experienced as much media scrutiny as Packer, the heir to his father Kerry Packer’s media empire. Packer significantly grew his family’s wealth by venturing into the casino industry and securing a duopoly in Australia with Star Entertainment.

Crown, the larger of the two gaming operators Down Under, was among the world’s richest and most successful casino companies, competing with the likes of Las Vegas Sands and MGM Resorts until its demise began in 2016. That’s when China imprisoned 19 Crown employees, including Jason O’Connor, the executive vice president of Crown’s VIP International division, on “gambling-related crimes.”

China alleged that Crown had knowingly broken its laws regarding advertising gambling trips to foreign countries. At the time, Crown remained invested in Macau through a joint partnership with Melco Resorts. Melco dissolved its association with Crown, with Melco’s founder Lawrence Ho, a Hong Kong native, saying at the time that Crown and Packer were “deliberately spitting on our faces.”

You had casino salespeople running around offering credit. It wasn’t discreet,” Ho said at the time.

Packer was later determined through several state inquiries in Australia to have held too much influence over Crown Resorts’ operations. He eventually resigned and sold off his entire stake in the gaming company.

In February 2022, US-based private equity giant Blackstone acquired Crown for AU$8.9 billion.

James Packer Beverly Hills home Crown Resorts
(Image: MLS)

Celebrity to Recluse 

As he lost control of his business empire, Packer was also losing his high-profile relationship with singer Mariah Carey. The two became engaged in January 2016 but had called off the marriage by October.

In 2017, Packer paid Carey a multimillion-dollar settlement billed as an “inconvenience fee” for tarnishing the singer’s reputation. At the time, Carey was performing her Las Vegas residency at The Colosseum at Caesars Palace.

Packer’s business and relationship losses were credited for sending the billionaire into a deep depression. His weight fluctuated greatly, and close friends became worried.

Packer has since emerged in a better place, those dear to him say. With the $60 million sale of his Beverly Hills pad, Packer is reportedly moving to Florida near President Donald Trump’s Mar-a-Lago.

The Australian Financial Review reports that Packer recently signed a two-year lease near Trump’s so-called Winter White House. Packer’s documentary production company, RatPac, is filming a biopic on First Lady Melania Trump, though how heavily involved Packer is in the day-to-day operations of the production isn’t known.