GAMBLING firms’ shares have plummeted in value following reports last Friday that the government plans to double some of the taxes paid by online casinos and bookies in the forthcoming Budget.

Shares were sent sharply lower across the sector when trading opened today, with Ladbrokes and Coral owner Entain down 9 per cent.

Entain’s rivals such as William Hill and 888 group Evoke fell by 12 per cent, followed by a 5 per cent fall in Paddy Power owner Flutter.