James Packer's Crowning glory: Casino tycoon's $200MILLION 'giga-yacht' is FINALLY ready to set sail - years late and $50million over budget
- The casino mogul's yacht has faced a number of setbacks to get on the water
- It had an initial budget of $150million but has blown out to over $200million
- The 108metre vessel is finally ready with James Packer expected to board soon
- The floating mansion will become his new home away from mainland properties
Casino tycoon James Packer's $200million 'giga-yacht' is finally ready to set sail after taking four years to build and surpassing the budget by $50million.
The Australian billionaire faced a number of setbacks in getting the 108metre Italian-made vessel on the water, but it is now ready to go.
The yacht was made by luxury shipbuilding company Benetti and is named IJE after Mr Packer's children - Indigo, Jackson and Emmanuelle.
Casino tycoon James Packer's $200million superyacht (pictured) is finally ready to set sail after taking four years to build and surpassing the budget by $50million
While waiting for the boat to be finished, Mr Packer had been sailing around the Mediterranean on a $40million yacht called Mischief with girlfriend Kylie Lim (pictured)
The vessel - named IJE after Packer's children Indigo, Jackson and Emmanuelle - was made by luxury shipbuilding company Benetti
IJE had an original budget of $150million but that ballooned to a final bill of around $200 million, The Daily Telegraph reported.
The yacht's construction process was being overseen by Mr Packer's longtime friend Matthew 'Ched' Csidei until the pair fell out and Mr Csidei left the billionaire's private investment company CPH in 2017.
Following the fallout, the budget ballooned as the vessel sat in the Benetti shipyard.
The luxury yacht has since hit the water off the coast of Tuscany and it seems Mr Packer will set sail in coming weeks.
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The floating mansion will become Mr Packer's private home on the seas while away from his properties in Los Angeles, Aspen, Argentina and Sydney.
The yacht, which is the largest private vessel of its type made by Benetti, will have a top speed of 18.5 knots and a cruising speed of 16 knots.
The yacht will be spread over five decks, featuring a cinema, sauna, gym, heated swimming pool and an observation deck.
There's more than 1000sqm of outdoor deck space, and it is fitted with a fire pit and a private dining area.
The vessel was made by luxury shipbuilding company Benetti and is named IJE, which had an original budget of $150million but that ballooned to a final bill of around $200 million
The couple were spotted on a romantic trip to Capri earlier this month, enjoying a loved-up holiday
While waiting for the boat to be finished, Mr Packer had been sailing around the Mediterranean on a $40million yacht called Mischief with girlfriend Kylie Lim.
The couple were spotted on a romantic trip to Capri earlier this month, enjoying a loved-up holiday.
The 52-metre charter vessel is owned by fellow business mogul and high school chum Ian Malouf, who sold his Dial-A-Dump business for a cool $578 million earlier this year.
At the end of May, Mr Packer sold almost half his stake in Crown Resorts for $1.76 billion to a Macau-based entertainment company owned by a former business partner.
Consolidated Press Holdings, Mr Packer's private investment company, sold 19.99 per cent of its shareholding in Crown Resorts to Melco Resorts and Entertainment, which is headed by Hong Kong casino mogul and his former partner Lawrence Ho.
It was sold for an aggregate purchase price of $1.76 billion, equivalent to $13 per share.
Once the share sale is completed, CPH will own about 26 per cent of Crown, worth about $2.3 billion, and will remain represented on the Crown board.
The luxury yacht has since hit the water off the coast of Tuscany and it seems Mr Packer will set sail in coming weeks (pictured with girlfriend Kylie Lim)
