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William Hill pushed into loss by Australia writedown

23 February 2018

William Hill has been pushed into an annual loss after slashing the worth of its Australian service.
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The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared with an earnings of ₤ 181.3 m the year before.
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That modification was primarily due to a ₤ 238m charge the business took to document the value of its organization in Australia.
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The writedown follows changes in guideline - with credit-funded betting now prohibited in Australia - and an increase in taxation in some states.
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William Hill is presently performing a strategic review of its Australian service, which is because of be completed by mid-2018.
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Online increase
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Despite the large write-off pressing the yohaig code business into a loss, William Hill said that its underlying performance had enhanced.

Net revenues increased 7% to ₤ 1.7 bn, while adjusted operating profit climbed 11% to ₤ 291.3 m.
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stated profits from its online organization rose 13%, which it stated shown improvements 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 responsibility regulations.
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The Commission stated the business did not do enough to make sure oversight measures worked. As an outcome, 10 consumers were able to transfer money linked to criminal offenses.

In its outcomes statement, William Hill restated that it had committed to bring out an independent review as a result of the findings, and would work to carry out any recommendations that emerge.

William Hill charge 'might go up' Video, 00:00:55 William Hill charge 'might go up'

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1 February 2018

Betting shares slide on stake-cut report

22 January 2018