Looking at page 11 of this statement, I think the Games Division will survive for a while yet.
http://www.sony.net/SonyInfo/IR/financial/fr/08q2_sonypre.pdf
The Games Segment seems to be the only one showing growth, even though it's still making a loss for now. There are other segments of Sony that are much closer to the axe imo.
Proud Sony Rear Admiral