$re = '/(?:^|@).\K|\.[^@]*$(*SKIP)(*F)|.(?=.*?\.)/m';
$str = 'great@gmail.com
myemail@gmail.co.uk
test.test@gmail.com
test.test@gmail.co.uk';
$subst = "*";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php