William Hill has been pushed into a yearly loss in the wake of cutting the value of its Australian business.

The bookmaker revealed a pre-tax loss of £74.6m for 2017, contrasted with a benefit of £181.3m the prior year.

That change was for the most part due to a £238m charge the organization brought to record the value of its business in Australia.

The writedown takes after changes in direction – with credit-subsidized wagering now prohibited in Australia – and an ascent in tax assessment in a few states.

William Hill is at present doing a vital survey of its Australian business, which is expected to be finished by mid-2018.