Number could be up for 888’s online poker

Shares in 888 Holdings sank 10% today on growing fears that the online poker boom is over.

The company is embarking on a cost-cutting programme after what it admitted was a "disappointing" second quarter for casino, poker and bingo revenues. The stock lost 9.8p to 84p.

888 said that its new products, which include sports betting and backgammon, are still performing well, while Dragonfish, its business-to-business arm, had won some new deals.

However revenue from those agreements had yet to gain significant volume.

888 is in a good financial position with net cash of $93 million (£61.3 million), leaving it able to pursue takeovers.