FEARS the internet gaming party for stock market punters may be over were deepened today by a slide in the shares of market debutant 888.com.

Shares in the online casino slipped 11 1/2p to 163 1/2p as 42 million changed hands after being priced today at 175p - close to the bottom of previous price indications - valuing the company at Pounds 590 million. The 888 float has been dogged since sector giant PartyGaming put out a trading warning earlier this month which indicated that peak growth in the sector may have passed.

More than Pounds 2 billion has been wiped off the market value of PartyGaming. Its 35% share price fall was extended today as the stock slipped a further 1 1/4p to 94 1/4p.

The fall at 888 will have done little to dent the float party, however. They might not be quite in the league of Roman Abramovich - Pounds 7.4 billion richer after yesterday's Sibneft share sale - but 888's founders, two pairs of Israeli brothers have cleaned up to the tune of Pounds 530 million in the float of 888.com.

Dentist Aharon Shaked had the idea for an online casino - 888 specialises in roulette and blackjack rather than PartyGaming's forte, which is poker - when he visited Monte Carlo for the first time in the mid-1990s. He and his brother Avi, and the Shaked family trusts today raised more than Pounds 100 million in from selling a quarter of their stake and retain a holding worth more than Pounds 310 million.

Their cofounders Ron and Shay Ben-Yitzhak have cashed in shares worth around Pounds 30 million and retain a Pounds 90 million stake.

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