Famed media and gambling tycoon James Packer is mourning the loss of his ‘dear friend’ and former colleague Todd Nisbet who died suddenly from a brain aneurysm.
It’s understood the 57-year-old, who was a former Crown Resorts executive and founder of NPACT Capital and Investment Management, passed away in Melbourne.
Packer, who previously invested in Mr Nisbet’s real estate company, described him as a ‘star’ in a gushing tribute shared with The Australian on Monday.
‘He was my best employee at Crown, and he carried on that excellence at NPACT. More importantly, he was a dear friend and a special and talented man,’ he said.
‘His death is a tragedy.’
Early in his career, Mr Nisbet directed projects in Las Vegas for casino giant Steve Wynn before he was handpicked by Packer to work for his entertainment company.
He oversaw Crown’s global and local developments between 2007 and 2022 across Sydney, Perth and overseas, including the $2.2billion Barangaroo casino.
It’s understood Packer brought Mr Nisbet on to secure his dreams of a Macau casino development, the Australian Financial Review reported.
Former Crown Resorts executive Todd Nisbet (pictured) has died at the age of 57
Pictured is the Crown Towers Sydney at Barangaroo – was opened to the public in late 2020
The Melco-Crown venture proved a roaring success, with Mr Nisbet later appointed as a director of Melco before Crown sold its stake in 2017.
So valued was Mr Nisbet, his termination payment was $3.1million when leaving Crown in June 2022.
Eight months later, he founded NPACT, an investment vehicle focused on property development that had the support of Packer.
The company has several Sydney projects from Surry Hills and Double Bay to the North Shore, including in Manly on the Northern Beaches.
It has also supported luxury developer Orchard Piper’s expansion in Melbourne, recently acquiring a development site near Kew Junction.
A spokeswoman for NPACT Capital and Investment Management said Mr Nisbet was a loved leader.
‘Todd very recently passed away from a sudden brain aneurysm. We thank his doctors and nurses, who did everything they could for him,’ she told The Australian.
‘His death is devastating for his wife Pam, his kids Chloe, Cole and Connor, and his family, many friends and people in the sector.’
His friend and long-time associate James Packer has mourned the loss of the entrepreneur
‘Todd was an exceptional leader whose vision shaped his business.
‘His passing is a deep loss to all who knew and loved him.’
NPACT investment manager Leslie Cockerell and CPH chief executive Lawrence Myers will take on more active roles in the business following Mr Nisbet’s death.
A spokeswoman said she did not expect any disruption to project delivery timelines.
Packer’s private CPH operation is expected to honour Mr Nisbet by continuing the business and completing its current projects.
