Packer walks away to fight demons
BILLIONAIRE James Packer is taking a break from his casino empire to deal with mental health issues.
Mr Packer announced his decision to step down from the board of his casino empire, Crown Resorts, which includes his Melbourne hotel.
Shares in the company fell 12¢ yesterday to close at $12.95.
Mr Packer is believed to be in the US as he focuses on his recovery. It is not known when, or if, he will return to the helm of the casino group.
“Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments,” a statement from Mr Packer’s private business, Consolidated Press Holdings, said yesterday.
Crown Resorts 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.”
Mr Packer has previously spoken about his battles with depression.