William Hill pressed into loss by Australia writedown
23 February 2018
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William Hill has actually been pushed into a yearly loss after slashing the value of its Australian organization.
The bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared with an earnings of ₤ 181.3 m the year before.
That change was generally due to a ₤ 238m charge the company required to write down the worth of its organization in Australia.
the yohaig code writedown follows modifications in policy - with credit-funded betting now banned in Australia - and a rise in tax in some states.
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William Hill is currently carrying out a strategic review of its Australian organization, which is because of be completed by mid-2018.
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Online boost
Despite the substantial write-off pressing the business into a loss, William Hill stated that its underlying performance had actually improved.
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Net profits rose 7% to ₤ 1.7 bn, while changed operating earnings climbed up 11% to ₤ 291.3 m.
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William Hill said incomes from its online business rose 13%, which it said reflected enhancements to its site and marketing.
On Tuesday, was struck with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social obligation regulations.
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The Commission said the business did not do enough to ensure oversight steps worked. As an outcome, 10 clients had the ability to deposit cash connected to criminal offences.
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In its outcomes declaration, William Hill repeated that it had devoted to bring out an independent review as an outcome of the findings, and would work to implement any recommendations that emerge.
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William Hill Pushed Into Loss
laurenmein4876 edited this page 2025-10-19 00:59:10 +02:00