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PBL ready to play games

Packer investing $158 million in HK co.

SYDNEY– Kerry Packer’s Publishing & Broadcasting Ltd. is making its first foray into Asia with a 50% stake in a new gaming company based in Hong Kong.

PBL is investing A$211 million ($158 million) in the venture, which is building a hotel/casino in Macau and is expected to expand to Singapore, Thailand and Taiwan. PBL’s partner is Melco Intl. Development, controlled by Macau entrepreneur Stanley Ho.

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