Is James Packer sowing the seeds for a return to living in Australia? It certainly looks that way after he sold one of his major personal investments, a stake in the Hollywood production and financing venture RatPac.

The latest move is part of a broader strategy to get his international investments in order and to get the debt of both his personal company and his 48 per cent owned Crown Resorts back to more manageable levels as he retreats from the international stage.

A return to Australia and more hands-on management of the Australian business would be the last piece in the jigsaw.

Divesting his Hollywood business is the latest part of what has been a corporate and personal garage sale of epic proportions, as Packer jettisons everything from his expensive former girlfriend Mariah Carey to Crown's golf courses, executive jets and a Melbourne golf course - which had been bought for the entertainment of Chinese high rollers.