William Hill departs from Australia

William Hill needs no introduction, is one of the biggest betting firms online globally, but they had a setback the last few days. As it was announced by the international bookmaker’s governance, their Australian operation was ended. That happened because of the sale of the Aussie William Hill to the popular bookmaker CrownBet, in a 313.7 million Australian dollars deal, which ends Will Hills involvement in the Australian betting market.

Huge losses were the reason

William Hill entered the Australian market in 2013 having huge expectations, but things didn’t go according to the plan for the global betting giant. The business operates telephone, online and mobile betting with around 284,000 customers throughout the Australian market. William Hill decided to accept a 238 million pounds impairment charge on the value of its Australian business. That decision saw the bookmaker forced to report a pre-tax loss of 75 million pounds for 2017.

That had as a result, for the company to reconsider their future plans about the company and the business in Australia in general. As it seems though, William Hill will not stop investing. There are already some thoughts about entering the emerging US market. A market in which they have been previously involved in with the OpenBet sports betting business. That was prior to its sale to the NYX Gaming Group. Apart from this, they are ready to strengthen their UK business even more. And more notably, at a time when their greatest rival, Ladbrokes-Coral is really near to be consolidated.

The statement

In a statement explaining the decision, William Hill CEO said. “The disposal follows a strategic review of the Business, launched in January after its profitability came under increased pressure. That happened due to the recent credit betting ban and the likely introduction of a Point of Consumption tax. The disposal will allow William Hill to focus on continuing to grow our UK Online and US businesses.”

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