Aussie gaming tycoons Len Ainsworth and James Packer have found their way on the 2017 version of the Australian Financial Review’s Rich List.
According to the latest review of Australia’s richest business brains, the total wealth of those in the 200-person list hit a record $233 billion, with the top ten alone being worth $75 billion.
Making one of the most impressive moves in 2016 was Len Ainsworth and his family thanks to their stake in Ainsworth Game Technology and Aristocrat Leisure.
Ainsworth’s Pokies Making Big Bucks
Ainsworth founded poker machine manufacturer Aristocrat in 1953, but sold his stake in the company following a cancer diagnosis in 1994. After the diagnosis turned out to be incorrect, Ainsworth left the company to members of his family who, with the help of Novomatic, have managed to make it the leading game provider in Australia.
As outlined by a recent revenue report, Aristocrat generated $249.6 million in profit after tax between March 31, 2016, and March 31, 2017. That figure was not only almost 60 percent better than the previous fiscal year, but enough to help the Ainsworth family move up from 23rd to 11th place on the Rich List.
Also helping to improve Ainsworth’s position is the other gaming company he founded, Ainsworth Game Technology. Despite share prices in the company falling in 2016, Ainsworth and his family are still worth an estimated $3.07 billion.
Packer Continues to Make Money Despite Crown Issues
Another familiar face from the gaming industry that made it onto the list this year is Crown Resorts executive chairman, James Packer. The casino mogul has been pulling back on various projects aboard (such as abandoning Alon Las Vegas), but his presence back on the Crown Resorts board has allowed him to stay in the top ten on the Rich List.
In fact, even with Crown suffering a PR disaster when 15 employees were arrested in China back in 2016, local interests have kept the company’s fortunes afloat. Between his casino interests and the sale of Pretty Girl fashion and the RatPac production company, Packer was able to hold a personal fortune of $4.75 billion.
As impressive as the fortunes of Ainsworth and Packer are, neither come close to this year’s richest Aussie, Anthony Pratt. Thanks to the continued success of his cardboard box manufacturing and recycling interests in the US and at home, Pratt moved to top spot for the first time since 2009 with a total fortune worth $12.60 billion.