Casino billionaire James Packer has reportedly embarked on a new romance with Australia’s best known model Miranda Kerr.

The news comes just months after the pair ended their respective marriages.

News Corporation Australia says Mr Packer has been quietly seeing the former Victoria’s Secret model during overseas trips.

The relationship is understood to have begun after the shock September announcement that he had separated from wife Erica, with whom he has three children.

Mr Packer, currently in the United States, is yet to comment on the reports.

Ms Kerr recently split from actor Orlando Bloom, with whom she has a 2-year-old son.

Woman’s Day magazine, which was once owned by the Packer family, is expected to publish more details of the romance on Monday.