William Hill pushed into loss by Australia writedown
23 February 2018
William Hill has actually been pressed into a yearly loss after slashing the value of its Australian business.
The bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared to a revenue of ₤ 181.3 m the year before.
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That change was mainly due to a ₤ 238m charge the business required to jot down the worth of its company in Australia.
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The writedown follows changes in policy - with wagering now banned in Australia - and a rise in tax in some states.
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William Hill is presently bring out a tactical evaluation of its Australian company, which is due to be finished by mid-2018.
Online increase
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Despite the large write-off pressing the business into a loss, William Hill said that its underlying performance had actually enhanced.
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Net earnings increased 7% to ₤ 1.7 bn, while changed operating revenue climbed 11% to ₤ 291.3 m.
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William Hill said incomes from its online service rose 13%, which it said shown improvements to its website and marketing.
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On Tuesday, William Hill was hit with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social duty guidelines.
the yohaig code Commission stated the business did not do enough to make sure oversight steps were reliable. As a result, 10 consumers had the yohaig code ability to transfer cash connected to criminal offenses.
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In its results statement, William Hill repeated that it had committed to perform an independent evaluation as an outcome of the findings, and would work to implement any recommendations that emerge.
William Hill charge 'could increase' Video, 00:00:55 William Hill penalty 'could go up'
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1 February 2018
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William Hill Pushed Into Loss
chadwickstallc edited this page 2025-10-20 03:42:02 +08:00