Casino Mogul Packer: China focus of investment strategy

Forbes – It’s tempting to paint James Packer as the billionaire heir who lucked into a winning hand on Macau casinos, but the reality is more complex. Packer–and his advisors–were ahead of many in seeing the business potential of the Internet and China’s emergence as a 21st-century powerhouse. The moves seem obvious now, but back in 1998, when Packer set up Australian online news portal Nine-MSN, or in 2004, when he was an early-stage investor in Australian jobs site Seek.com, or in 2005, when he grabbed a stake in carsales.com , these were viewed as highly risky ventures. All three…