William Hill pressed into loss by Australia writedown
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23 February 2018

William Hill has actually been pushed into an annual loss after slashing the yohaig code value of its Australian organization.

The bookie reported a pre-tax loss of ₤ 74.6 m for 2017, to a profit 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 value of its service in Australia.
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The writedown follows modifications in policy - with credit-funded wagering now prohibited in Australia - and a rise in taxation in some states.
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William Hill is currently bring out a tactical evaluation of its Australian organization, which is due to be completed by mid-2018.
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Online boost
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Despite the yohaig code substantial write-off pushing the company into a loss, William Hill said that its underlying performance had enhanced.
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Net earnings rose 7% to ₤ 1.7 bn, while adjusted operating earnings climbed up 11% to ₤ 291.3 m.
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William Hill stated revenues from its online business rose 13%, which it said reflected enhancements 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 duty regulations.

The Commission said the company did not do enough to guarantee oversight steps worked. As a result, 10 customers had the ability to transfer money linked to criminal offenses.
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In its outcomes statement, William Hill restated that it had dedicated to bring out an independent review as an outcome of the yohaig code findings, and would work to execute any suggestions that emerge.

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