Casino mogul James Packer is back on the board of Crown Resorts barely 12 months after stepping down to focus on the company’s overseas investments.
Packer’s return follows the announcement this week that Robert Rankin – who took on the role of Chairman in December 2015 – would relinquish his role as part of a major reshuffle of the company’s leadership.
It also comes in the wake of Crown Resorts selling off half of its stake in Melco Crown, part of an about-face that will see the company focus its energies back on its Australian properties, including its upcoming VIP casino in Sydney.
While Packer is back, the role of Chairman will now fall to current Deputy Chairman John Alexander as Crown Resorts continues to battle the fallout from the arrests of 18 staff in mainland China last year on suspicion of promoting gambling.
“Crown Resorts is one of Australia’s leading entertainment companies and we will work hard to ensure it continues to deliver world-class facilities and services to all its’ customers and guests,” Alexander said. “I thank the Crown Resorts board for its support and look forward to representing all shareholders to ensure the business continues to grow and create value.”
