LiveScore Group is set to accelerate its global expansion plan after benefitting from a £50m strategic investment from Swiss media and technology firm Ringier AG.
Ringier’s investment in LiveScore values the business at £500m, and is intended to fuel the expansion of its LiveScore, LiveScore Bet and Virgin Bet brands.
LiveScore Group was founded in 2019 by Gamesys co-founder Noel Hayden and is led by industry veteran Sam Sadi.The original LiveScore product is a sports update and streaming service boasting millions of users across more than 200 territories globally and an incredibly successful gambling affiliate as a result.
LiveScore Bet is the brand’s associated B2C sportsbook, currently available to customers in the UK, Ireland and the Netherlands, which uses existing user relationships with LiveScore to convert sports fans into bettors.
Ringier, a Swiss media and technology group of more than 130 companies, operates several media brands, digital platforms and marketplaces.
Its recently created Ringier Sports Media Group division is home to a portfolio of forward-thinking businesses looking to change the way global audiences interact and engage with sport.
Its strategic investment in LiveScore is intended specifically to accelerate the brand’s growth across key Central and Eastern European territories, the firms said.LiveScore Group CEO Sam Sadi: “Ringier, with its Sports Media Group, is the perfect partner as we look to accelerate our expansion into Central and Eastern European territories, given their outstanding expertise, assets and relationships.”
Following the investment, senior partner of the Ringier Sports Media Group, Stilian Shishkov, will also join the supervisory board of LiveScore Group.
“Ringier, with its Sports Media Group, is the perfect partner as we look to accelerate our expansion into Central and Eastern European territories, given their outstanding expertise, assets and relationships,” said Sam Sadi, CEO of LiveScore Group.
Noel Hayden, executive chairman of the LiveScore Group board, added: “I’m excited to see two of the most innovative sport and media businesses form a game-changing new relationship.
Ringier’s CEO Marc Walder added that together the businesses aim to enhance and increase the enjoyment of sport through innovative products and immersive experiences.
“With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport,” Walder concluded.
LiveScore counts Manchester United and Portugal footballer Cristiano Ronaldo as a global brand ambassador.