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William Hill pressed into loss by Australia writedown
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23 February 2018
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William Hill has actually been pressed into a yearly loss after slashing the value of its Australian organization.

the yohaig code bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared to a revenue of ₤ 181.3 m the year before.

That modification was mainly due to a ₤ 238m charge the business required to write down the value of its company in Australia.
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The writedown follows modifications in regulation - with credit-funded wagering now prohibited in Australia - and an increase in taxation in some states.
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William Hill is currently carrying out a strategic review of its Australian business, which is because of be completed by mid-2018.

Online increase

Despite the substantial write-off pushing the company into a loss, William Hill stated that its underlying efficiency had actually improved.

Net profits increased 7% to ₤ 1.7 bn, while adjusted operating revenue climbed up 11% to ₤ 291.3 m.
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William Hill stated earnings from its online business rose 13%, which it stated reflected 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 anti-money-laundering and social duty regulations.

The Commission said the company did not do enough to ensure oversight procedures worked. As a result, 10 customers had the ability to transfer money connected to criminal offences.

In its outcomes statement, William Hill repeated that it had actually dedicated to carry out an independent review as an outcome of the findings, and would work to carry out any suggestions that emerge.

William Hill penalty 'might increase' Video, 00:00:55 William Hill penalty 'could go up'

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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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