Shock as Australian casino mogul James Packer quits empire over ‘mental health issues’
James Packer, 50, first left Crown’s board in 2015, the year he was briefly engaged to singer Mariah Carey, and rejoined 14 months ago while the company was in crisis following the arrest of staff for breaches of gambling marketing laws in China
Australian tycoon James Packer abruptly quit Wednesday as director of his gaming empire Crown Resorts for “mental health issues”, stepping back from all commitments indefinitely.
No further details were given although the billionaire mogul, the scion of a media dynasty, has previously spoken about his battles with depression and how movie star Tom Cruise helped him cope.
“James Packer today resigned from the board of Crown Resorts Ltd for personal reasons,” said a spokesperson for his private investment vehicle Consolidated Press Holdings, which is Crown’s largest shareholder.
“Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments.”
One of Australia’s richest people, with a personal fortune estimated at A$3.9 billion (US$3 billion), Packer has long sat at the head of the media and gaming empire built up by his family over three generations.
