Billionaire businessman James Packer is spotted onboard his luxury yacht with friends in Mexico

James Packer has emerged from lockdown, with the businessman spotted on his luxury yacht with friends in Mexico‘s Cabo San Lucas recently.

The 52-year-old billionaire appeared to be making the most of his outing, and was spotted strolling along the deck.

There was no missing the sizable boat, which towered next to nearby apartment buildings.

James was dressed casually in a navy blue shirt, which he paired with dark trousers and a pair of sunglasses.

He seemed happy and relaxed after months in lockdown amid the coronavirus pandemic.

It’s been a rollercoaster few years for the renowned investor, who has dealt with his share of setbacks in both his career and personal life.

On Tuesday, it was revealed his new $2.4 billion Crown casino in Sydney won’t have a single pokie after a rival casino snapped up exclusive rights on Friday.

The Harbour City’s other casino, The Star, signed a deal with the New South Wales state government for sole rights to operate the revenue spinners for the next 21 years. 

Crown had been lobbying for years to remove a pokie ban at its Barangaroo site but was unsuccessful – leading The Star’s share price to jump by more than four per cent on Monday.

The coronavirus pandemic has also thrown Crown’s plan to target Chinese billionaires into disarray – leaving the company scrambling to drum up business by targeting RSL punters in Sydney’s west.

Crown Resorts, which operates casinos in Melbourne, Perth and London, had originally intended its Sydney operation to largely target international VIPs.

In January, however, the Morrison government banned visitors from mainland China because of the growing coronavirus pandemic. 

In April, Hong Kong gaming tycoon Lawrence Ho’s Melco Resorts ended its joint venture with Crown by selling its 10 per cent stake in the company – further damaging Crown’s ability to bring in wealthy Chinese gamblers.

Construction of Crown casino at Barangaroo is nearing completion with the $2billion building – the tallest in Sydney – schedule to be finished before the end of 2020.

The venue will open it’s doors in February with 120 gaming tables and members only being allowed to place bets of a minimum of just $20 to $30. 

James currently divides most of his time between Aspen and Los Angeles, Packer said he hopes to spend more time in Sydney once Crown is complete.

‘Having this hotel gives Crown three incredible resorts across the country, employing thousands of workers and attracting tourists from across the globe,’ he previously told Daily Mail Australia.

‘I grew up in Sydney and my kids still spend time here, it’s a beautiful place and I hope to spend more time visiting.’

Packer bought two floors of the building from Crown in 2017.

‘Crown has reached in-principle agreement with Mr James Packer to sell two floors of the Crown Sydney Residences at the Crown Sydney Hotel Resort to Mr Packer for $60million,’ a statement from the company at the time read.

‘The floors are located above the mid-levels of the Crown Sydney Hotel Resort.’

Packer said Barangaroo will be among the best precincts in the world once construction is complete. 

In March 2018, James resigned as director of Crown Resorts, citing mental health issues.

‘We have appreciated James’ contribution to the Board and respect his decision to step down from his role as a director at this time,’ said Executive Chairman John Alexander at the time.

James has battled anxiety and depression for years, but the announcement was a rare public admission of his mental health struggles.   

‘I am happy now to live a quiet life, but I wanted to come back and see the progress at Crown Sydney with my own eyes,’ he later told Daily Mail Australia.

‘It’s even better than I imagined and, again, I am extremely thankful to the workforce who have got us to this point.’

In March 2018, shortly after he had resigned from the boards, he checked himself into a $35,000-a-week psychiatric hospital in the US.   

James delved into the private story behind his mental health journey in his biography, The Price of Fortune: The Untold Story of Being James Packer, written by journalist Damon Kitney.

In 2016, he felt his life was spiralling out of control as his daily diet consisted of vodka and powerful prescription pills.

As his businesses took serious hits, James was pushed into a third nervous breakdown.

By October that year, he began to worry the people around him, with one psychiatrist even asking him: ‘Are you trying to kill yourself?’

In May 2019, he sold 19.99 per cent of his Crown Casino shares to Melco Resorts and Entertainment for $1.76billion. 

James’ $200million mega yacht was finally completed in April last year, after taking four years to construct.

He named the impressive boat IJE – the first initial of his three children’s names, Indigo, Jackson and Emmanuelle.

The yacht was built by Benetti in Livorno, Italy and measures 108 metres in length, according to a report by The Sydney Morning Herald in April last year.

It is considered to be one of the biggest superyachts ever to be built, and weighs 3700 tonnes and stands 30.4 metres tall.

The boat features a cinema, heated swimming pool, gym, sauna, observation deck, and a 1.5 metre fire-pit on its 1000 square metre deck. 

Meanwhile, the yacht’s garage can store up to eight jet skis.