James Woods is reportedly quitting the movie industry.

The 70-year-old actor has announced he is retiring from acting through a property listing, the Providence Journal has reported, and it has been rumoured the 'Casino' star is leaving the entertainment business because he wants to ''simplify his life'', which will also see him sell ''many'' of his properties.

Speaking about Woods' career decision, real estate agent, Allen Gammons, said: ''[He] is retiring from the entertainment industry and hopes to 'simplify his life' by selling 'his many real estate holdings on both coasts.'''

The movie icon owns four homes in Rhode Island, and he is believed to be putting one of the houses in the American State in New England, The Exeter, which has two lake houses, up for sale for approximately $1.4 million.

And it has been rumoured Woods - who received the Outstanding Lead Actor in a Miniseries or a Movie for his role in 'Promise' at the Primetime Emmy Awards in 1987 as well as the Best Actor for a Miniseries or Television Film at the Golden Globe Awards in the same year - plans to spend his free time dabbling in his other hobbies, which include photography and antiques.

The 'Videodrome' star has reportedly opted for the quieter life after having lost his mother Martha Woods in 2012, and his brother Michael Jeffrey Woods six years earlier.

Woods has been open about his political views over the years, and it has been reported that his own personal beliefs has made it difficult for him to be cast in acting jobs and for other projects in Hollywood.

However, it is believed that Woods' decision to leave the entertainment industry was not due to a political reason, according to businessman Gammons.