William Hill pressed into loss by Australia writedown

23 February 2018
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William Hill has been pushed into an annual loss after slashing the worth of its Australian company.
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The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared with a revenue of ₤ 181.3 m the year before.

That change was primarily due to a ₤ 238m charge the company required to document the worth of its service in Australia.

The writedown follows modifications in guideline - with credit-funded betting now banned in Australia - and an increase in taxation in some states.

William Hill is currently bring out a strategic evaluation of its Australian company, which is due to be completed by mid-2018.
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Online increase

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

William Hill said profits from its online company rose 13%, which it stated reflected enhancements to its site and marketing.

On Tuesday, William Hill was hit with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social obligation policies.
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the yohaig code Commission stated the business did refrain from doing enough to ensure oversight measures worked. As a result, 10 clients were able to transfer money connected to criminal offences.
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In its outcomes statement, reiterated that it had dedicated to perform an independent evaluation as a result of the findings, and would work to implement any suggestions that emerge.
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William Hill charge 'might increase' Video, 00:00:55 William Hill charge 'could increase'
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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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