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William Hill pressed into loss by Australia writedown
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23 February 2018
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William Hill has actually been pushed into a yearly 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 yohaig code year before.

That modification was generally due to a ₤ 238m charge the business took to make a note of the worth of its organization in Australia.

The writedown follows changes in policy - with credit-funded betting now prohibited in Australia - and a rise in tax in some states.

William Hill is presently performing a strategic evaluation of its Australian service, which is due to be completed by mid-2018.

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

Net earnings rose 7% to ₤ 1.7 bn, while adjusted operating revenue climbed 11% to ₤ 291.3 m.
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William Hill stated revenues from its online company increased 13%, which it stated shown improvements to its website and marketing.
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On Tuesday, William Hill was struck with a ₤ 6.2 m fine by the Gambling Commission for breaching anti-money-laundering and social duty regulations.

The Commission said the business did refrain from doing enough to make sure oversight steps worked. As a result, 10 customers were able to transfer cash linked to criminal offenses.

In its results statement, William Hill repeated that it had actually dedicated to perform an independent evaluation as an outcome of the yohaig code findings, and would work to implement any suggestions that emerge.

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1 February 2018
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Betting shares slide on stake-cut report

22 January 2018
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