James Packer quits Crown Resorts for 'personal reasons'

Mae Love
March 21, 2018

James Packer has quit casinos operator Crown Resorts' board in a surprise move as the billionaire takes time out to deal with mental health issues.

We have appreciated James' contribution to the board and respect his decision to step down from his role as a director at this time.

In a brief statement issued to the ASX this morning, Crown Resorts said that Mr Packer resigned as a director of the casino group "for personal reasons".

A stream of leaks from the investigation have appeared in local media, many concerning hospitality given by Packer - who seeks high-tech investments in Israel and owns a home in glitzy Caesarea - to Yair, both in Israel and the United States. Packer is a much-publicised character and one of Australia's wealthiest men. "And you get gun-shy of getting hit", Mr Packer said in the interview.

Packer, who is Crown's largest single shareholder, rejoined the company as a director in August of last year, having previously stepped down from the role in 2015.

Mariah Carey was introduced to the stage by Packer at Crown Casino's New Year's Eve Party in 2015.

Recently, Mr. Packer has been shedding assets.

Pennsylvania Supreme Court Issues New Congressional Map To Replace Gerrymandered One
Senate Majority Leader Jake Corman (R., Centre) said Republicans would likely seek an injunction in federal court . Some have suggested to move the primary to June 15th to give voters and candidates time to adjust to the new map.

Celtics Have 'Good Feeling' Kyrie Irving Will Return For Playoffs
Kyrie Irving is still out for the Boston Celtics after missing a fourth consecutive game due to a sore knee as he will now seek outside counsel. "I'm not concerned.

Chelsea hero's Mohamed Salah comparison has come good
Liverpool will not sell Mohamed Salah this summer under any circumstances, a source has told ESPN FC. "He's got the goals , I don't see why he couldn't win it".

"He was a big personality associated with the direction and the drive of Crown", Mr Lucas said.

Shares in Crown were 18 cents, or 1.4 per cent, lower at $12.89 at 1153 AEDT.

Packer had only returned to the board past year after previously stepping down to focus on global interests.

According to a report in The Australian, Packer's resignation follows his decision to reduce his shareholding in Crown Resorts in December.

"When anyone - including a high-profile person - is prepared to talk publicly about these matters, it encourages others to have the conversation", beyondblue chief executive Georgie Harman said on Wednesday.

Anyone suffering mental health concerns, or who have concerns for the welfare of someone else, can contact beyondblue on 1300 22 4636 or Lifeline on 13 11 14.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER