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William Hill into loss by Australia writedown
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23 February 2018

William Hill has been pressed into an annual loss after slashing the value of its Australian service.

The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared to a revenue of ₤ 181.3 m the year before.

That change was primarily due to a ₤ 238m charge the business required to jot down the worth of its organization in Australia.

the yohaig code writedown follows changes in guideline - with credit-funded betting now banned in Australia - and a rise in tax in some states.

William Hill is presently bring out a tactical evaluation of its Australian service, which is due to be completed by mid-2018.
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Online increase

Despite the large write-off pushing the company into a loss, William Hill said that its underlying performance had improved.
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Net profits rose 7% to ₤ 1.7 bn, while adjusted operating earnings climbed 11% to ₤ 291.3 m.

William Hill stated profits from its online service rose 13%, which it said reflected improvements to its site and marketing.
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On Tuesday, William Hill was struck with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social duty policies.
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The Commission stated the business did not do enough to ensure oversight steps were effective. As a result, 10 consumers had the ability to deposit cash linked to criminal offenses.

In its outcomes statement, William Hill restated that it had actually devoted to carry out an independent review as a result of the findings, and would work to implement any recommendations that emerge.
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William Hill charge 'could increase' Video, 00:00:55 William Hill penalty 'could go up'
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1 February 2018
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Betting shares slide on stake-cut report

22 January 2018
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