William Hill Pushed Into Loss William Hill pressed into loss by Australia writedown 23 February 2018 William Hill has been pushed into an annual loss after slashing the value of its Australian service. The bookmaker reported a pre-tax loss of ₤ 74.6 m for 2017, compared to an earnings of ₤ 181.3 m the year before. That modification was mainly due to a ₤ 238m charge the business took to document the value of its company in Australia. The writedown follows modifications in policy - with credit-funded wagering now prohibited in Australia - and an increase in tax in some states. William Hill is presently carrying out a tactical evaluation of its Australian organization, which is due to be finished by mid-2018. Online boost Despite the large write-off pressing the business into a loss, William Hill said that its underlying performance had improved. Net profits rose 7% to ₤ 1.7 bn, while adjusted operating earnings climbed 11% to ₤ 291.3 m. William Hill stated profits from its online company rose 13%, which it said reflected improvements 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 obligation policies. The Commission said the company did refrain from doing enough to make sure oversight measures worked. As an outcome, 10 customers were able to transfer cash linked to criminal offenses. In its results statement, William Hill repeated that it had actually committed to perform an independent evaluation as a result of the findings, and would work to execute any suggestions that emerge. William Hill penalty 'could increase' Video, 00:00:55 William Hill penalty 'could increase' 0:55 1 February 2018 Betting shares slide on stake-cut report 22 January 2018