William Hill pushed into loss by Australia writedown
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23 February 2018
William Hill has been pressed into an annual loss after slashing the value of its Australian business.
the yohaig code bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared to an earnings of ₤ 181.3 m the yohaig code year before.
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That modification was generally due to a ₤ 238 the business required to compose down the yohaig code worth of its organization in Australia.
the yohaig code writedown follows modifications in regulation - with credit-funded wagering now prohibited in Australia - and a rise in taxation in some states.
William Hill is currently performing a tactical evaluation of its Australian company, which is because of be finished by mid-2018.
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Online increase
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Despite the substantial write-off pushing the company into a loss, William Hill stated that its underlying efficiency had improved.
Net earnings increased 7% to ₤ 1.7 bn, while adjusted operating earnings climbed 11% to ₤ 291.3 m.
William Hill stated incomes from its online service increased 13%, which it said shown improvements to its website 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 obligation regulations.
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The Commission stated the company did refrain from doing enough to make sure oversight measures were reliable. As an outcome, 10 customers had the ability to transfer money linked to criminal offenses.
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In its results statement, William Hill restated that it had actually committed to carry out an independent review as an outcome of the findings, and would work to carry out any recommendations that emerge.
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William Hill Pushed Into Loss
ronaldcrowley edited this page 2025-10-20 12:54:02 +02:00