Miranda Kerr's New Boyfriend: Casino Billionaire

Miranda Kerr may not have her sights set on Justin Bieber after all. Woman's Day in Australia is reporting that the supermodel, recently separated from hubby Orlando Bloom, is now in a relationship with Australian casino mogul and billionaire James Packer. Packer was married to another model, Erica Baxter, for six years, but they split up a month before Kerr and Bloom, in September; the two couples had vacationed together in Tahiti months before the respective break-ups.

"Miranda may come across as an Earth Mother but she loves the high life and James can provide the sort of lifestyle and security very few could give her," a friend says. "I couldn't be happier for her—this year’s been pretty difficult for Miranda. Her career seems to have hit a slump and she was totally devastated by the split." Interestingly, she and Packer reportedly met through Bloom and Baxter. The Sydney Morning Herald says they've been friends for a long time. Packer, 46, has three children with Baxter, including a daughter who just turned one, while Kerr, 30, has a young son, Flynn, with Bloom. (More Miranda Kerr stories.)