William Hill pressed into loss by Australia writedown

23 February 2018

William Hill has been pushed into an annual loss after slashing the worth of its Australian business.

The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared to a revenue of ₤ 181.3 m the year before.
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That modification was primarily due to a ₤ 238m charge the business required to document the worth of its organization in Australia.

The writedown follows modifications in policy - with credit-funded betting now prohibited in Australia - and a rise in taxation in some states.
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William Hill is currently performing a strategic review of its Australian organization, which is due to be completed by mid-2018.
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Online increase

Despite the substantial write-off pressing the yohaig code business into a loss, William Hill said that its underlying efficiency had actually enhanced.

Net profits increased 7% to ₤ 1.7 bn, while changed operating revenue climbed 11% to ₤ 291.3 m.

William Hill said revenues from its online business increased 13%, which it said shown improvements to its site and marketing.
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On Tuesday, William Hill was hit with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social responsibility regulations.
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The Commission stated the company did not do enough to make sure oversight measures worked. As an outcome, 10 customers were able to deposit money connected to criminal offenses.

In its outcomes statement, William Hill reiterated that it had devoted to perform an independent evaluation as a result of the findings, and would work to execute any suggestions that emerge.
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penalty 'could go up' Video, 00:00:55 William Hill charge 'could increase'

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1 February 2018

Betting shares slide on stake-cut report

22 January 2018
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