shuts on-line gaming business

PBL shuts down online gaming business

The Kerry Packer-controlled Publishing and Broadcasting Limited (PBL) says it has shut down its online gaming business.

It says operations ceased yesterday.

PBL says the closure follows a period of major regulatory change in the global online gaming environment.

Chief executive officer Peter Yates says PBL has taken the view that its online gambling business will not break even this financial year.

He says it is now unlikely to achieve the scale necessary to contribute meaningfully to the group's profitability.