Australian millionaire James Packer no longer works as a director of the Crown Resorts casino. The many setbacks that the millionaire has had to deal with as a director have meant that he no longer wants and can be involved with Crown Resorts. The casino is the seventh largest listed casino company in the world. Packer made a lot of money with Crown Resorts, but has now decided to let go of the casino.
Many setbacks in succession
The first setback that James Packer, director of Crown Resorts, faced was the break with Mariah Carey. She no longer wanted to perform at the casino, but James Packer also called his contract with Carey "an error." Another setback that Packer faced was the failure of its expansion strategy for Crown Resorts.
The biggest setback of the past two years, however, has to do with a few Packer employees. No fewer than 18 employees were arrested at his casino for violating gambling legislation in China. This scandal led to a major relapse at Crown Resorts.
Road to mental health problems
Consolidated Press Holdings, an investment company owned by Packer, has issued a statement about the departure of the millionaire from Crown Resorts. This statement states that Packer has "mental health problems" and must therefore take a step back. He therefore resigns as a director at Crown Resorts.
It is not known exactly what mental health problems the 50-year-old millionaire has. It is clear that Packer supports the statement of Consolidated Press Holdings, since this investment company is owned and controlled by him. By the way, Packer no longer needs to work if he doesn't want to. Its assets are currently estimated at more than 4 billion Australian dollars.