LiveScore Group restructure expected to result in more than 100 redundancies
Company announces streamlining across multiple divisions which it says will put foundations in place for “long-term and sustainable success”
LiveScore Group has announced an internal restructuring process which is expected to result in more than 100 job losses at the privately owned firm.
The streamlining will impact several departments across multiple business locations, including the company’s headquarters in London.
LiveScore Group also has offices in Ireland, Austria, Gibraltar, Malta, Nigeria, South Africa and Stoke-on-Trent.
The business, which runs the LiveScore Bet and Virgin Bet brands as well as sports media platform LiveScore, said the changes were a “difficult yet important step”.
All of the impacted employees have been informed of the decision and are now subject to a confidential consultation process.
The redundancies across the group follows the decision to pull LiveScore Bet from the Netherlands amid government plans to raise the tax rate.
The right-wing coalition will lift the GGR tax rate from 30.5% to 34.2% in January 2025 before hiking the rate further to 37.8% in 2026.
The brand will cease operating in the market on 29 November. Upon confirming its decision to leave the Netherlands, LiveScore Group said some employees would be impacted.
The redundancies confirmed today include those impacted by the Netherlands withdrawal.
LiveScore Bet remains live in the UK, Ireland and Nigeria. Virgin Bet is only available in the UK.
This year, LiveScore Bet and Virgin Bet shifted from DraftKings’ B2B platform to launch Kambi-powered sportsbooks.
Sam Sadi, LiveScore Group CEO, said: “On behalf of all directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.
“While we celebrate our recent period of significant and exciting growth, we must now future proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years,” he added.
In September, LiveScore Group COO Harald Goeschl departed the company after seven years of service.