William Hill pressed into loss by Australia writedown
23 February 2018
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William Hill has actually been pushed into an annual loss after slashing the value of its Australian service.
The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, compared to a profit of ₤ 181.3 m the year before.
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That modification was generally due to a ₤ 238m charge the company required to jot down the worth of its company in Australia.
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the yohaig code writedown follows modifications in regulation - with credit-funded wagering now banned in Australia - and a rise in taxation in some states.
William Hill is presently carrying out a strategic review of its Australian organization, which is because of be completed by mid-2018.
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Online increase
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Despite the large write-off pressing the company into a loss, William Hill stated that its underlying efficiency had enhanced.
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Net profits increased 7% to ₤ 1.7 bn, while changed operating earnings climbed 11% to ₤ 291.3 m.
William Hill said earnings from its online business increased 13%, which it said shown improvements to its website 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 duty policies.
The Commission stated the did not do enough to ensure oversight measures worked. As a result, 10 consumers were able to transfer money linked to criminal offenses.
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In its results statement, William Hill reiterated that it had actually devoted to bring out an independent evaluation as an outcome of the yohaig code findings, and would work to carry out any recommendations that emerge.
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William Hill Pushed Into Loss
ericabaldessin edited this page 2025-10-22 14:37:32 +08:00