Packer moves internet casino to Vanuatu

Australia's wealthiest man, media tycoon Kerry Packer, is planning to shift his internet gaming operation to Vanuatu to dodge restrictive Australian legislation.

The move would allow the Packer family company, Publishing and Broadcasting, to pay an internet gambling rate of only 2.5 per cent, one of the world's lowest.

Packer, who owns Sydney Channel Nine television network and a string of magazines among other business interests, is renowned as Australia's biggest punter.

A Packer-owned internet casino is expected to earn $A50 million ($62 million) in its first year.

Canberra is almost certain to ban local companies offering online gaming facilities after a Senate committee recommended adopting the ban proposed by the Government's Interactive Gambling Bill.