Share price rise suggests calmer waters may be on the horizon for 888 after recent turbulence

William Hill's parent company 888 Holdings has gone through a turbulent few months, but the company's share price rose by 20 per cent on Friday to suggest it might have turned a corner.

In January, 888 announced the abrupt departure of chief executive and company veteran Itai Pazner while at the same time revealing it had suspended its VIP activities in the Middle East over failures in its anti-money laundering (AML) processes.

Then in March William Hill was hit with a record £19.2 million penalty from the Gambling Commission over social responsibility and AML failures that took place before 888 completed its acquisition of the bookmaker last July.