William Hill pushed into loss by Australia writedown
23 February 2018
William Hill has actually been pressed into a yearly loss after slashing the value of its Australian company.
the yohaig code bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared with a profit of ₤ 181.3 m the year before.
That modification was primarily due to a ₤ 238m charge the yohaig code company took to compose down the value of its service in Australia.
The writedown follows changes in guideline - with credit-funded wagering now prohibited in Australia - and a rise in taxation in some states.
William Hill is presently performing a strategic evaluation of its Australian service, which is because of be finished by mid-2018.
Online increase
Despite the hefty write-off pressing the business into a loss, William Hill stated that its had actually improved.
Net profits increased 7% to ₤ 1.7 bn, while changed operating revenue climbed 11% to ₤ 291.3 m.
William Hill stated incomes from its online business rose 13%, which it stated shown improvements to its website and marketing.
On Tuesday, William Hill was hit with a ₤ 6.2 m fine by the yohaig code Gambling Commission for breaching anti-money-laundering and social duty guidelines.
The Commission stated the business did refrain from doing enough to make sure oversight measures worked. As a result, 10 customers were able to deposit cash linked to criminal offenses.
In its outcomes declaration, William Hill repeated that it had devoted to bring out an independent evaluation as a result of the findings, and would work to carry out any suggestions that emerge.
William Hill penalty 'could go up' Video, 00:00:55 William Hill charge 'could go up'
0:55
1 February 2018
Betting shares slide on stake-cut report
22 January 2018
