This story is part of Forbes' reporting on Australia's 50 Richest 2017.
Just over a year ago, James Packer was on top of the world. His Crown Resorts, Australia's casino-market leader, held pole position for the lucrative China market and was developing the $1.9 billion Crown Sydney to directly challenge rival Star Entertainment's flagship. Its Melco Crown partnership with Lawrence Ho gave Crown exposure to the world's biggest casino market, Macau, and Asia's fastest-growing gambling market, the Philippines.