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Crown Resorts replaces CEO, scraps hotels listing

Shares soar as it announces special dividend of A$0.83 apiece, pushes ahead with stock buyback

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The casino operator is tightening its focus on its Australian operations after a group of employees were detained on the Chinese mainland in October for alleged gambling-related crimes.

Melbourne

BILLIONAIRE James Packer accelerated his restructuring of Crown Resorts Ltd, replacing the chief executive officer and scrapping a hotels listing as the casino operator seeks to recover from a gambling crackdown in China.

John Alexander, who's worked for the Packer family

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