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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 been pressed into a yearly loss after slashing the yohaig code worth 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.

That change was generally due to a ₤ 238m charge the business required to make a note of the worth of its service in Australia.
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The writedown follows modifications in regulation - with credit-funded betting now prohibited in Australia - and an in tax in some states.

William Hill is currently bring out a strategic review of its Australian organization, which is because of be completed by mid-2018.

Online boost
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Despite the significant write-off pressing the business into a loss, William Hill said that its underlying performance had actually improved.

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

William Hill stated earnings from its online service rose 13%, which it said shown improvements to its site 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 obligation policies.

The Commission stated the business did refrain from doing enough to ensure oversight measures worked. As an outcome, 10 clients were able to transfer money linked to criminal offenses.

In its outcomes declaration, William Hill reiterated that it had dedicated to carry out an independent evaluation as an outcome of the yohaig code findings, and would work to implement any suggestions that emerge.

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