James Packer steps down from Crown Resorts board

James Packer has resigned from the board of Australian-listed Crown Resorts Limited, just four months after vacating the chair to focus on the company’s international interests.

The company announced the move on Monday effective immediately, however he will remain as co-chairman of Melco Crown Entertainment Limited and co-chairman of Alon.

Packer said it is now the right time for him to focus on his new role with Crown.

“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."

Packer, who owns approximately 53% of Crown’s shares, is believed to be in discussions about buying the company out and taking it private, ABC News reported.