John Alexander, Crown's executive chairman and long-time adviser to Mr Packer, said: "We have appreciated James' contribution to the board and respect his decision to step down from his role as a director at this time." Sources close to Mr Packer said they were shocked by the announcement. The high-profile casino mogul is known to have suffered from depression and anxiety for many years - after the collapse of One.Tel in 2001, his break-up with ex-wife Jodhi Meares, and during the global financial crisis - but some associates said he had recently appeared healthier and happier. Mr Packer, Crown's biggest shareholder, officially rejoined the company's board of directors just several months ago, in August last year, after standing down in December 2015. Earlier this month, he reduced his shareholding in Crown Resorts to maintain a 47 per cent stake.

Loading Turbulent times The high-profile billionaire's personal affairs have been the subject of some attention in recent months following the break-up with his fiancee, pop diva Mariah Carey. His relationship with his sister, Gretel Packer, has also deteriorated after splitting up the fortune of the estate of their late father, Kerry Packer. In February, Mr Packer was named a key figure in an investigation into corruption claims against Israeli Prime Minister Benjamin Netanyahu over a series of expensive gifts given to him by wealthy international businessmen.

Police recommended Mr Netanyahu face charges of "fraud and breach of trust" over his relationship with Mr Packer, who participated in a voluntary interview as a witness in the case, and faced no suggestion of wrongdoing. Mr Packer has been living between the US cities of Los Angeles and Aspen, and on his ranch near Buenos Aires in Argentina. His resignation on Wednesday is the latest development in a turbulent period for Crown, which was rocked last year by the jailing and criminal convictions of more than a dozen of its employees in China for illegally promoting gambling. The company subsequently pulled back from its ambitions of becoming a global casino and hotels group, exiting its Macau casino joint-venture and abandoning plans to build a new casino in Las Vegas. "We didn't succeed in a global strategy," he said at the company's most recent annual general meeting.