Crown Resorts replaces CEO, scraps hotels listing

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


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 for almost two decades and was named Crown chairman last month, will also take over the CEO role from Rowen Craigie next week, the company said on Thursday.

The concentration of power reflects Crown's tighter focus on its...

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