Culture

James Packer resigns as director of Crown Resorts 'over mental health issues'

James Packer resigns as director of Crown Resorts 'over mental health issues'”

James Packer has sensationally stepped down from his role as a director of Crown Resorts this morning, due to an on-going battle with mental health issues.

He is reportedly dropping all commitments.

Packer, Crown's biggest shareholder, officially rejoined the company's board of directors in August previous year after standing down in December 2015.

Lucas said Crown "will get through it" without Packer because there's enough leadership on the board already.

"Mr Packer is suffering from mental health issues".

"Most of it is negative".

Angus Gluskie, a portfolio manager at White Funds Management, which owns Crown shares, said Packer's departure would remove a conflict of interest should he launch a buyout bid.

More news: Rian Johnson knew people wouldn't like Star Wars: The Last Jedi

Crown shares dropped 1.4 percent to their lowest price in nearly a month following the announcement, while the broader market was flat.

"He was a big personality associated with the direction and the drive of Crown", Mr Lucas said. The article also noted that Packer had returned to the Crown board last July after stepping down in late 2015 to focus on worldwide interest, but that Crown's overseas ambitions were "unwound over the past year".

Keeping such a large stake in Crown, an investment now valued at about A$4.2 billion, has driven rumours that Packer intends to take it private.

Earlier this month, Mr Packer sold more than $100 million worth of his shares in Crown.

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.

It is the the second time in three years that Mr Packer has quit the Crown Resorts board.



Like this

loading...
loading...

Latest


21 March 2018
Suncor Energy Inc. (SU)
Suncor Energy Inc. has a 1-year low of $27.96 and a 1-year high of $38.39. (SU) has been moved; whether it performed well or not. Wells Fargo increased their target price on Suncor Energy from C$56.00 to C$59.00 in a research note on Thursday, January 11th.

21 March 2018
A frustrated president lashes out at special counsel Mueller
No obstante, el hombre dijo que este es su premio mayor y "con mucho el más grande" que ha obtenido, dijo Lotería de Idaho. Lo que representa su sexta ganancia en este tipo de loterías.

21 March 2018
Lindsay Lohan Pivots To Law As The Face Of Lawyer.com
Lindsay Lohan has made the rounds recently - most memorably in a 1-on-1 interview with Wendy Williams - with a whole new schtick of groundedness, humility, and a tough-to-place accent.

21 March 2018
Inc. Sells 1193 Shares of Crown Castle International Corp. (REIT) (CCI)
After $-0.10 actual EPS reported by JD.com, Inc. for the previous quarter, Wall Street now forecasts -130.00% EPS growth. Dow Jones Equity All REIT Total Return Index REIT had 5 analyst reports since March 23, 2017 according to SRatingsIntel.

21 March 2018
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Micro Focus International — SHAREHOLDER ALERT
The stock of Micro Focus International plc (LON:MCRO) has "Buy" rating given on Thursday, December 10 by Numis Securities. The stock of Ellington Financial LLC (NYSE:EFC) has "Hold" rating given on Friday, February 16 by Keefe Bruyette & Woods.

21 March 2018
Stock to Watch: Aveo Pharmaceuticals (AVEO)
It dropped, as 22 investors sold DPLO shares while 37 reduced holdings. 21 funds opened positions while 64 raised stakes. On The Other side GGP Inc . a US based Company, belongs to Financial sector and REIT - Retail industry. (NASDAQ: AVEO ).

21 March 2018
Pan American Silver (PAAS) Upgraded to "B" by TheStreet
The RSI is classified as a momentum oscillator, measuring the velocity and magnitude of directional price movements. A value between 70 and 100 is considered overbought; hence the trader should look at selling opportunities.

21 March 2018
Goldman Sachs Downgrades Bank of New York Mellon (BK) to Neutral
Also, Director Trian Fund Management, L.P. purchased 360,000 shares of the company's stock in a transaction on Friday, March 9th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Thomson Reuters' consensus estimate of $0.91.

21 March 2018
New Trailer For Marvel's Cloak & Dagger Released By Freeform
A new trailer for Freeform's Marvel's Cloak and Dagger teases more of the titular heroes' complicated and explosive relationship. The series is co-produced by Marvel Television and ABC Signature Studios.

21 March 2018
Syria War: Nearly 35 killed as rockets hits Damascus market
On Monday, the militants pounced on Qadam from the neighboring Hajr al-Aswad and Yarmouk neighborhoods, which they control. Russian Federation has been a top ally of Syria for decades, operating a naval base out of the western port of Tartus.