Billionaire James Packer resigns as Crown director


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Australian mogul James Packer resigned today from the day-to-day running of Crown Resorts but said he will remain involved with the global casino operator in a senior executive role.

The billionaire, who owns 53 percent of the Australian-based company, quit as director but will remain co-chairman of Macau-focused group Melco Crown Entertainment and Alon, the holding company for Crown's move into Las Vegas.

He said his decision followed Rob Rankin's appointment Crown chairman after Packer quit that position in August, as the tycoon spends an increasing amount of time overseas.

"I intend to devote my energies to a number of key development projects in Sydney, Melbourne and Las Vegas as well as Crown's online platforms," he said in a statement.

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