AU Casino Billionaire Packer Making an Impact in Hollywood with the Success of “Gravity”
Not many are aware that Australian casino mogul James Packer's business includes producing films in Hollywood, through Rat Pac Entertainment, a media outfit he formed with director Brett Ratner in December 2012. The billionaire describes the venture as a small private investment for which his initial outlay was a $100 million funding for their first film, the space drama-thriller “Gravity”.
Anyone who is into movies know that the film was a tremendous success, since it soared high at the box-office with a record of $55.6 million ticket sales on opening day alone. In the recently concluded Oscar Awards, the film bagged seven trophies, besting all other nominees in terms of the most number of awards won. This recent development has raised Packer's RatPac Entertainment to another level as the 46-year old Australian billionaire has been signing several big deals in the U.S. after Gravity became a huge success at the tills.
His outfit is currently providing the funds for the filming of “The Water Diviner”, Russell Crowe's directorial debut movie. Future projects include coproducing about 75 films at Warner Bros. studios as part of a 4-year $450 million deal entered into with Dune Entertainment. Packer's partner, Brett Ratner disclosed that if all goes well with the Warner films venture, RatPac's financing plans could very well go beyond $1 billion.
Actually, James Packer has his sight set not only on Hollywood's movie making business but also in China, and possibly India as well. Ratner mentioned plans of establishing RatPac China, and that the outfit is more of a media company that dabbles not only in film production and film-financing, as they have plans of tapping the markets for television production, documentary-filming and book publishing in the near future.