William Hill pushed into loss by Australia writedown
bet9ja.com
23 February 2018

William Hill has actually been pushed into a yearly loss after slashing the worth of its Australian company.
bet9ja.com
the yohaig code bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared to an earnings of ₤ 181.3 m the year before.

That change was generally due to a ₤ 238m charge the company required to jot down the value of its business in Australia.

The writedown follows modifications in guideline - with credit-funded betting now prohibited in Australia - and an increase in taxation in some states.
bit.ly
William Hill is presently bring out a strategic review of its Australian business, which is because of be by mid-2018.
bet9ja.com
Online increase

Despite the significant write-off pressing the company into a loss, William Hill said that its underlying efficiency had enhanced.

Net earnings rose 7% to ₤ 1.7 bn, while adjusted operating revenue climbed up 11% to ₤ 291.3 m.

William Hill said revenues from its online service rose 13%, which it said reflected enhancements to its website and marketing.
bet9ja.com
On Tuesday, William Hill was struck with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social duty guidelines.

The Commission said the business did not do enough to guarantee oversight procedures worked. As a result, 10 clients were able to transfer money linked to criminal offences.

In its results statement, William Hill reiterated that it had dedicated to perform an independent review as a result of the findings, and would work to carry out any suggestions that emerge.

William Hill penalty 'might go up' Video, 00:00:55 William Hill charge 'could increase'

0:55

1 February 2018
bet9ja.com
Betting shares slide on stake-cut report

22 January 2018
bet9ja.com