James Packer Quits Board of Own Company to Recover From Illness

(Bloomberg) -- Billionaire James Packer stepped down as a director of his private investment company, three months after quitting the board of his casino operator Crown Resorts Ltd. because of mental health issues.

The 50-year-old resigned from closely held Consolidated Press Holdings Pty on June 27, according to a notice lodged with the Australian Securities & Investments Commission. Consolidated Press owns about 46 percent of Crown Resorts, according to Bloomberg data.

“Mr Packer has stepped off the CPH Board as he continues his recovery from illness,” a Consolidated Press spokesman said in an email.

At the time of Packer’s resignation from Crown’s board in March, Consolidated Press said he would stand back from all commitments. Twice-divorced Packer has endured a tumultuous few years, from the public breakup of his engagement with pop diva Mariah Carey to the conviction of Crown employees in China in 2017 for illegally promoting gambling.

©2018 Bloomberg L.P.

With assistance from Angus Whitley

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