Casino magnate James Packer’s new boat, Z Ellerston, has recently arrived in Sydney Harbour. It is a stunning 165ft Yacht manufactured by Italian shipbuilders, Mangusta, 50 metres long and capable of 37 knot speeds…the largest open-style motor yacht in the world!

James bought the second Mangusta 165 to come out of the Italian shipyard last year and after a summer cruising the smartest ports in the Med, the giant open yacht has NOW reached Australia.

According to Boatpoints.com.au, this stunning motor yacht was spotted heading out of Newcastle this week after being recommissioned following its voyage as deck cargo on a freighter from Europe. The yacht is expected to be permanently based Sydney but will probably be seen up and down the east coast with the changing seasons.

Named Z-Ellerston after Packer’s Hunter Valley property and his world-class polo team, the 165 foot yacht is driven by three, 4446hp engines that give it a top speed of 37 knots.

While he was waiting for the $50 million yacht to be launched, Packer was given a Mangusta 107 by the building company to keep him happy. The smaller boat is now expected to sold on the Australian or Asian markets rather than being shipped back to Europe.

From a distance, it looks like a sleek sports cruiser. It is only when observers get closer that its vast size becomes apparent. There are enormous deck spaces for entertaining, dining and sunning — but below there is another world. Don’t you wish you were in that boat now?