Shares fall as 888 disappoints investors

Shares in online casino 888 plunged 6% today after the business reported a drop in active members, while a 23% hike in second quarter revenues fell short of market expectations.

The gambling firm said sales between April and the end of June rose to $80m (€59m), reflecting a rise of 48% for poker and 9% in casino.

While the company said its performance had been in line with its expectations, it also said the number of active members dropped 9% to 281,402 because of the negative effect of the World Cup. The number of active members in its casino fell 19% to 71,242 and by 5% to 210,160 at the poker tables.

Matthew Gerard, an analyst at Investec Securities, said: “Second quarter revenues fall short of our expectations in both poker and casino.”