LiveScore Group Restructures, Cutting Over 100 Jobs

How does a company navigate the challenges of global markets while aiming for sustainable success? LiveScore Group, a leading sports media brand, has announced significant restructuring measures, including over 100 job cuts across multiple locations, such as London. The decision, part of a broader strategy to streamline operations, also involves withdrawing the LiveScore Bet brand from the Netherlands. While difficult, these moves aim to future-proof the organization and solidify its market position.

LiveScore Group Restructures, Cuts Over 100 Jobs Amid Market Challenges

Key Points:

1. LiveScore Group announces over 100 job cuts as part of a major internal restructuring effort.
2. The company withdraws its LiveScore Bet brand from the Netherlands due to planned tax increases.
3. LiveScore reassures customers of continued operations in its core markets despite the changes.

LiveScore Group’s decision to eliminate over 100 roles is a response to evolving business challenges. CEO Sam Sadi explained the rationale behind the restructuring:
“While we celebrate our recent period of significant growth, we must now future-proof the organization to ensure sustainable success.”

Employees impacted by these changes have been informed and are currently undergoing a confidential consultation process. Despite the layoffs, LiveScore has assured that its core platforms, including LiveScore, LiveScore Bet, and Virgin Bet, will continue to operate without disruption in their primary markets.

Exiting the Netherlands: A Difficult but Strategic Move

The restructuring follows the group’s recent decision to withdraw its LiveScore Bet brand from the Netherlands. The move comes in response to the Dutch government’s plan to increase gambling taxes from 30.5% to 37.8% of gross revenue.

Sadi acknowledged the challenges posed by the higher tax rate, calling the withdrawal a “difficult decision” but one necessary for the company’s financial viability.
“Unfortunately, the planned tax increase makes this market no longer commercially viable,” he said.

The withdrawal not only impacts operations in the Netherlands but also contributes to the overall layoffs within the company.

LiveScore Group: Adapting in a Dynamic Market

Founded in 2019 as a spin-off from Gamesys Group, LiveScore Group has rapidly grown into a powerhouse in sports media. With its flagship platform reaching over 50 million daily users across 200+ territories, the company has become synonymous with real-time sports data and streaming services.

Despite the challenges, LiveScore remains committed to delivering quality services to its global audience. The company has reiterated that its platforms will continue to thrive in their remaining markets, emphasizing resilience and adaptability.

LiveScore Group’s restructuring marks a turning point in its journey toward long-term sustainability. While the decision to cut jobs and exit the Netherlands is undoubtedly challenging, it underscores the company’s commitment to strategic realignment in a competitive global market.

By focusing on core operations and adapting to market realities, LiveScore aims to strengthen its position as a leader in sports media and gaming. These steps, though painful in the short term, lay the groundwork for a resilient and innovative future, ensuring the company remains a trusted name for millions of sports fans worldwide.