William Hill is to get out from Down Under

0 The bookmaker said the disposal will enable it to keep growing its UK online and US operations Bookmaker William Hill is to offload its Australian business for A$300 million (£168.5m) to Crownbet after a gambling crackdown in the country.

A ban on credit betting and the likely introduction of a point of consumption tax in a number of states had put profits under pressure at the firm, leading it to announce a strategic review of its Antipodean arm in January.

Chief executive Philip Bowcock said that the disposal will enable the firm to keep expanding its UK online and US operations, with money from the sale being used to pay down debt and crank up investment.

William Hill Australia booked revenues of A$201m last year and earnings of A$47m.

But last month the company took a £238.3m goodwill impairment as it posted its 2017 results, after what it described as “adverse tax and regulatory changes” in Australia and additional charges linked to a group-wide transformation programme.