Packer loses $20 m at baccarat

 

Australia's richest man, Mr Kerry Packer, known as a keen gambler, was reported yesterday to have lost at least $20 million (€22.41 million) in a gambling spree in Las Vegas last month.

Citing gambling industry sources in Las Vegas, the Australian newspaper said he took one of the biggest losses in the town's history at the Bellagio Hotel, playing his favourite card game, baccarat.

Mr Packer's personal worth in 1999 was estimated at Aus$8.2 billion ($4.6 billion) by Australia's Business Review Weekly magazine.