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Crown Resorts Owner & Billionaire James Packer Resigns as He Battles Mental Health Issues

Crown Resorts Owner & Billionaire James Packer Resigns as He Battles Mental Health Issues

Crown Resorts Founder & Billionaire James Packer has resigned as a director of Crown Resorts as he battles mental health issues.  In 2017, he had returned to the Crown Resorts Board as part of leadership changes following the company’s decision to exit Macau and focus on its Australian assets.

“ Crown Resorts Owner & Billionaire James Packer Resigns as He Battles Mental Health Issues “

In recent times, James Packer, a billionaire with an estimated fortune of almost $4 billion and Australia’s top 10 wealthiest person, has been battling business and personal issues.  He was linked to a corruption scandal involving Israeli Prime Minister Benjamin Netanyahu, who is being investigated for receiving lavish gifts from businessmen including James Packer.  In Australia, he reportedly had $2.3 billion of debt at CPH & over $3 billion of debt at Crown, and exited his casino business in Macau after investigation & fines by Chinese authorities.  In 2015, after almost 10 years of negotiating, a settlement was reached with his elder sister, Gretel Packer over his late father’s $1.25 billion will.  In 2017, he ended his relationship & engagement with pop star Mariah Carey and made a settlement of more than a few million dollars to her.

James Packer is the son of the late media mogul Kerry Packer who founded Publishing and Broadcasting Limited, and inherited Consolidated Press Holdings.  Crown Resorts was founded in 2007 through a divestment from Publishing and Broadcasting Limited.

Sources: News, BBC, Crown Resorts

 

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About Crown Resorts

Crown Resorts is one of Australia’s largest entertainment groups.  The group’s core businesses and investments are in the integrated resorts sector.

In Australia, Crown Resorts wholly owns and operates two of Australia’s leading integrated resorts, Crown Melbourne Entertainment Complex and Crown Perth Entertainment Complex.  Overseas, Crown Resorts also fully owns and operates Crown Aspinalls in London, one of the high-end licensed casinos in the West End entertainment district.  Crown Resorts also has a strong portfolio of future projects and complementary investments, anchored by Crown Sydney, and including our digital businesses.

Visit: Crown Resorts

 

 


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