James Packer’s New $200 Million Yacht Inches Closer to Maiden Voyage


Casino mogul James Packer’s new gygayacht is inching closer to her maiden voyage; the businessman has reportedly spent more than $200 million on his new toy

One of Australia’s richest men, James Packer will soon be able to feed his well-known taste for expensive toys with a brand-new “gigayacht”. The vessel was built by Benetti in the Italian city of Livorno.

Benetti lowered the luxury yacht earlier this month in the Livorno port to celebrate the culmination of a four-year building process that hit multiple hurdles and delays. The numerous obstacles before the vessel ballooned her initial budget of $120 million to an estimated $200 million.

Measuring 108 meters in length, FB275, as she has been referred to throughout the building process, is the longest yacht in the Benetti fleet. She was also the third 100-plus-meter “gigayacht” to be launched by the company over the past several months.

According to the Sydney Morning Herald, Mr. Packer will name his new yacht IJE, the initials of his three children – Indigo, Jackson, and Emmanuelle – from his ex-wife, Erica Packer. It is still unknown when exactly the vessel will be delivered to her owner.

The 108-meter luxury mega yacht encompasses 3,700 GT from mast to keel and will replace Mr. Packers significantly more modest 55-meter Amels, EJI, which he offloaded last September.

Hard to Miss

With its 14.5-meter beam and soaring at 30.4 meters in height, Packer’s new vessel will be a true spectacle. As reported by the Sydney Morning Herald, it has been the businessman’s ultimate dream to pull the yacht into the Sydney port.

The megayacht’s exterior was designed by RWD and carries the British studio’s signature elegant lines. The interior design of the stylish vessel was taken care of by Benetti’s own in-house creative team.

Key features include five decks, a cinema, sauna, heated swimming pool, gym, an observation deck with a seating area. An owner’s deck will have its own seating and private areas in addition to those on the main deck. Two 14-meter tenders can be found on the foredeck and a 10-meter tender is stowed in the yacht’s garage.

FB275 is equally impressive on a technical level. The vessel’s propulsion system will power her to develop a top speed of 18.5 knots and reach a range of at least 6,500 nautical miles. Benetti’s longest superyacht houses a 345,000-liter capacity tank that will enable the vessel to cruise the world without the need for regular refuel.

Mr. Packer’s new luxury toy will hopefully help him sail away from troublesome few years for his casino business Crown Resorts as well as from multiple personal trials. The Australian gambling and hospitality giant had an eventful week as news broke that Wynn Resorts has made a $7.1 billion bid to acquire it. The Las Vegas powerhouse abruptly pulled the plug on takeover discussions after details leaked to media.

Mr. Packer, who owns 47% in Crown through his Consolidated Press Holdings, has reportedly lost out on a $2 billion payout and a 10% stake in the combined Wynn-Crown entity as a result from the deal’s failure.

Last year, the businessman resigned as a director at Crown and stepped back from his commitments to the company, citing mental health reasons for his decision.

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