Billionaire James Packer has stood down as chairman of Crown Resorts so he can spend more time in the United States, where his children live, and focus on the casino group's global expansion.

In a surprise announcement, Mr Packer, who is also Crown’s largest shareholder, relinquished his role so he can dedicate more time to the group’s expansion plans, especially in Asia and the gaming hub of Las Vegas. He will remain on the board as a senior executive director and co-chairman of…