404 Document Not Found

Not sure if this is the right forum for this post if not my apologies.
I noticed that i have at the moment 688 ‘404 document not found’ hits according to awstats. I got to looking at my latest visitor report and noticed that alot of these hits are originating from extensions such as this
directory/internet-play-poker-table.html
I did further research and from what I have found is that at one time or another there was another site with the same domain name as mine and plenty of pages similar to the one listed above. Based on what I see from the amount of 404sit looks like alot of hits are coming into these pages, once they get to these pages their is nothing there of course.
Do you think my site would benefit from creating pages with the same extensions as what is showing up in my 404s?
My site is http://www.poker-portal.info so canI build pages such as this http://www.poker-portal.info/directory/internet-play-poker-table.html ….can you include the word directory in the file name and have it work? I guess I could test it out.
Any thoughts? Could what is happening come back to hurt me in the serps?