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William Hill pressed into loss by Australia writedown

23 February 2018
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William Hill has been pressed into an annual loss after slashing the value of its Australian organization.

The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared to an earnings of ₤ 181.3 m the year before.
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That change was generally due to a ₤ 238m charge the company took to make a note of the value of its service in Australia.

The writedown follows changes in guideline - with credit-funded betting now prohibited in Australia - and a rise in taxation in some states.
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William Hill is presently bring out a tactical evaluation of its Australian service, which is due to be completed by mid-2018.
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Online boost

Despite the large write-off pressing the company into a loss, William Hill stated that its underlying performance had actually enhanced.
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Net incomes rose 7% to ₤ 1.7 bn, while adjusted operating revenue climbed up 11% to ₤ 291.3 m.
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William Hill stated revenues from its online company rose 13%, which it said reflected improvements 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 duty guidelines.

The Commission stated the company did not do enough to ensure oversight steps worked. As a result, 10 clients had the ability to connected to criminal offenses.
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In its outcomes declaration, William Hill restated that it had committed to perform an independent review as a result of the findings, and would work to execute any recommendations that emerge.

William Hill charge 'might go up' Video, 00:00:55 William Hill charge 'could go up'
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1 February 2018

Betting shares slide on stake-cut report

22 January 2018