William Hill pressed into loss by Australia writedown
23 February 2018
William Hill has been pushed into a yearly loss after slashing the value of its Australian company.
The bookmaker 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 mainly due to a ₤ 238m charge the company took to make a note of the worth of its service in Australia.
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The writedown follows modifications in policy - with credit-funded betting now banned in Australia - and an increase in taxation in some states.
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William Hill is currently performing a strategic review of its Australian company, which is due to be finished by mid-2018.
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Online increase
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Despite the yohaig code hefty write-off pushing the yohaig code business into a loss, William Hill said that its underlying performance had enhanced.
Net earnings increased 7% to ₤ 1.7 bn, while adjusted operating profit climbed up 11% to ₤ 291.3 m.
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William Hill said profits from its online service rose 13%, which it stated reflected improvements to its site and marketing.
On Tuesday, William Hill was struck with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social responsibility policies.
The Commission stated the business did refrain from doing enough to make sure worked. As a result, 10 clients had the yohaig code ability to deposit money linked to criminal offences.
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In its outcomes statement, William Hill repeated that it had actually dedicated to perform an independent review as a result of the findings, and would work to implement any suggestions that emerge.
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William Hill Pushed Into Loss
nikolecolston2 edited this page 2025-10-21 23:41:32 +00:00