Home Business NewsBusiness William Hill swings to a loss amid Australian gambling crackdown

William Hill swings to a loss amid Australian gambling crackdown

by LLB Reporter
23rd Feb 18 11:56 am

After Australian regulators banned credit-funded betting

William Hill is suffering its first pretax loss in three years after slashing the value of its Australian business amid a local crackdown on gambling.

The bookmaker reported today a £74.6m pre-tax loss in 2017, compared with a profit of £181.3m the year before.

That change was mainly due to a £238m charge the company took to write down the value of its business in Australia. Australian regulators have banned credit-funded betting and William Hill is now considering whether to sell this part of the business.

The bookmaker has already launched a strategic review of the Australian business, which it hopes to conclude by mid-2018.

 

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