William Hill denies it’s considering selling Australian arm

British bookmaker William Hill has denied it is considering the sale of its Australian assets after plummeting profits sparked speculation about the future of the Tom Waterhouse-led bookmaking operation.

According to a report from The Australian, the recent firing of the group’s British chief executive, James Henderson, sparked speculation that the Australian business could be sold as part of an industry consolidation.

However, a spokesman for William Hill said the speculation was “completely untrue”.

William Hill’s Australian arm posted slim profits of A$7 million ($5.3 million) from revenue of more than A$1 billion. The profit results represented a decline of 60 percent year-on-year.