William Hill pushed into loss by Australia writedown

23 February 2018

William Hill has been pressed into a yearly loss after slashing the yohaig code value of its Australian business.

The bookmaker reported a of ₤ 74.6 m for 2017, compared with an earnings of ₤ 181.3 m the year before.

That change was mainly due to a ₤ 238m charge the company took to jot down the yohaig code value of its organization in Australia.

The writedown follows changes in regulation - with credit-funded wagering now banned in Australia - and an increase in taxation in some states.

William Hill is presently carrying out a tactical evaluation of its Australian business, which is because of be finished by mid-2018.
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Online boost

Despite the yohaig code hefty write-off pushing the business into a loss, William Hill said that its underlying performance had actually improved.
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Net profits rose 7% to ₤ 1.7 bn, while adjusted operating earnings climbed up 11% to ₤ 291.3 m.
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William Hill said profits from its online company increased 13%, which it said shown enhancements to its website 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 obligation policies.

The Commission stated the business did refrain from doing enough to guarantee oversight steps were effective. As a result, 10 customers were able to deposit money linked to criminal offences.

In its results declaration, William Hill repeated that it had devoted to perform an independent review as an outcome 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 charge 'might increase'

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1 February 2018

Betting shares slide on stake-cut report

22 January 2018
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