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Casino Rejects Packers Guarantee for Friend
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2006-05-23
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James Packer - Australia's richest man - and a friend left The Star City casino on Saturday night feeling very dejected.
The pair had been playing Baccarat in the casinos invitation only Endeavour room. Mr Packers friend had been losing heavily and when he requested a $20,000 line of credit, he was flatly refused. Mr Packer offered to guarantee the sum but was also refused.
The casino operates a strict policy where it is prohibited by law to provide credit. It does allow patrons to cash checks but this procedure takes a while to process and as the pair were on a tight schedule they decided not to and left the casino in protest.
Mr Packers father who died last year amassed a $7 billion fortune and was know as the "whale" one of the worlds biggest gamblers. He reportedly won 20 consecutive hands of baccarat in 20 minutes at $250,000 a hand, and allegedly paid off a cocktail waitress's mortgage with a $125,000 tip.
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(By Cindy)
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