Investors in 888 Holdings were counting their winnings yesterday after stake-building by a consortium of former Entain board directors sent shares in the William Hill owner soaring by more than a quarter.

The 20½p increase, or 25.6 per cent, to 100½p followed a rise of more than 14 per cent the day before, bringing relief to shareholders who had spent the past 12 months watching their investment in 888 drop by two thirds.

The bounce in the shares came amid speculation that FS Gaming Investments, the consortium, had already contacted the company’s board with the aim of using its 6.57 per cent stake to pressure it into considering changes both to its strategy and its make-up.

FS Gaming is the vehicle of Kenny Alexander, 54,