Online casino shares drop

11 March 2008

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The bursting of the internet poker and casino bubble extended the share-price losses of its leading players to more than 4.5bn today as a leading online gaming executive warned the extraordinary growing market seen this year has receded to nothing better than "flattish".

PartyGaming shares plunged by a third after that warning and those losses have now been extended to more than 50%, wiping 3.3 billion off the value of the company as the shares today fell another 6p to 74p.

Empire Online"s shares dived almost 25% on the comments, falling 44p to 139p - half what they were a month ago. Lanir"s comments come just a month after a similar warning from market leader PartyGaming, the largest online poker room operator in the world, which catapulted into the FTSE 100 after floating this summer.

Jackpot City Casino showcases Online casino shares drop