James Packer Steps Down Over “Mental Health Issues”

James Packer

James Packer the man behind Crown Resorts has stepped down as a Director of the casino company citing “mental health issues.”

It was only back in August last year he rejoined the board of Crown after leaving as Chairman in 2015. The company has had problems over the last couple of years with the arrest of its marketing team for China over illegal activities and also Crown separating from Melco the Macau based casino company.

The latest news thou has come as a shock to many with a spokesman for Mr Packer’s Consortium Press Holdings, Crown’s largest shareholder, said the magnate “intends to step back from all commitments”.

Mr Packer still holds around 47% of Crown Resorts and no statement on any sale of those shares was mentioned. He still remains one of the richest men in Australia with a wealth of $3.1 billion according to the latest Forbes report on the world’s richest people.

John Alexander the Executive Chairman of Crown Resorts said, “We have appreciated James’ contribution to the board and respect his decision to step down from his role as director at this time.”