Australian billionaire James Packer has stepped down as a director of Crown Resorts Limited, citing mental health issues. A spokesman for his private investment company confirmed that the 50-year-old businessman is currently suffering from mental health problems.
Packer had only rejoined the board of the casino operator in August after stepping down as chairman and director in 2015. The company expressed gratitude for his contributions in a brief statement on Wednesday. Executive chairman John Alexander said: 'We have appreciated James' contribution to the board and respect his decision to step down from his role as director at this time.'
A spokesman for Consortium Press Holdings, Crown's largest shareholder, noted that Packer 'intends to step back from all commitments'. Earlier this month, Packer sold over A$100m ($76m; £55m) worth of Crown shares, though he retains a dominant stake of about 47% in the company, which operates casinos in Australia and London.
His resignation follows a tumultuous period for the billionaire, including a scandal involving Israeli Prime Minister Benjamin Netanyahu. In December, Israel's Channel 10 reported that Packer told investigators he had given gifts to the prime minister and his wife Sara. Packer's high-profile split from singer Mariah Carey in 2016 and a street brawl with an Australian TV executive in 2014 also drew public attention.
According to Forbes, Packer is Australia's eighth-richest person with an estimated fortune of A$4bn ($3.1bn; £2.2bn). His departure from the board comes after Crown refocused on Australia, exiting investments in Macau and the US following the jailing of 16 Crown employees in China for illegally promoting gambling.
