The sudden announcement from the casino giant was confirmed with a statement to the ASX this morning.
The statement said Mr Walsh, who joined Crown in 2008, will cease his role as Crown Melbourne chief executive in just over two weeks.
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Victoria will hold a royal commission into Crown Casino.(Joe Armao) Mr Walsh will remain available to assist the company until his employment at Crown ends on 9 December, the statement said.
Crown said it would announce an interim appointment to replace Mr Walsh following consultation with the Victorian Commission for Gambling and Liquor Regulation.
In March the Victorian government announced it would launch a Royal Commission into Crown Melbourne.