Following a controversial couple of years and the $3.3 billion sale of his Crown Resorts stake, James Packer is developing a new resort in Barbuda alongside his friend, Hollywood superstar Robert De Niro.
The resort is set to be worth approximately USD$500 million ($737 million).
De Niro and Packer were spotted last week on Packer’s superyacht by paparazzi, but what they didn’t catch was the deal being cut below deck.
The pair purchased a derelict resort on Barbuda in 2015 and after 6 years of planning and getting local authorities’ approval, the project is set to get underway, Packer told the Sydney Morning Herald.
“Bob and I are going to build the best resort in the Caribbean together,” Packer said, confirming there would be no casino in the new development.
“We are going to build something unique and beautiful, and I believe Barbuda will also prove to be an excellent commercial development. I love being in business with Bob. He is a living legend.”
Speaking on the deal and his friendship with Packer, De Niro was only supportive.
“Working with Jamie has always been the best of experiences,” De Niro said.
“He’s a gentleman and always sensitive to the feelings of others, in the best sense. It’s an honour to work with him and be his partner.”
The project is set to be branded as a Nobu resort, the same as De Niro’s restaurant chain which Packer has invested more than $100 million.
In 2015, the pair purchased the dilapidated K Club on Barbuda, in the eastern Caribbean, north of Antigua. This is regarded as one of the more underdeveloped areas of the region.
Packer told the SMH that he was confident that he and De Niro would “do well financially” out of the deal, but “more importantly… build something special.”
Featured Image: Twitter/@abnantigua
