LiveScore Group Announces Restructuring Amid Strategic Shift

LiveScore’s Restructuring

The restructuring, announced on November 19, will impact roles in various locations, including its London office. LiveScore describes this initiative as a “difficult yet important step” designed to streamline operations and establish stronger frameworks for long-term success.

By enhancing operational efficiency, the company believes it can pave the way for enduring, sustainable growth. Employees affected by the changes will participate in a confidential consultation process, ensuring privacy and professionalism throughout the transition.

CEO Sam Sadi on the Importance of Restructuring

LiveScore CEO Sam Sadi acknowledged the gravity of the decision.“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. It is a process which impacts a significant number of our people,” Sadi stated.

He highlighted the balance between celebrating recent growth and ensuring the company’s long-term viability.

“While we celebrate our recent period of significant and exciting growth, we must now future-proof the organization 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.

Affected employees have been notified and will undergo a confidential consultation process. LiveScore remains committed to handling these changes with sensitivity, emphasizing the importance of supporting its workforce during this transitional period.

LiveScore Bet’s Netherlands Exit

The restructuring announcement follows LiveScore Bet’s recent decision to exit the Netherlands market, effective November 12. The operator cited rising tax rates as a significant factor influencing this decision.

LiveScore Bet, operated by subsidiary LiveScore Malta, was among the first companies to enter the Dutch iGaming market in 2021. However, the Dutch government’s tax increases have proven a challenging barrier to continued operation.

From January 1, 2024, the gross gaming revenue tax in the Netherlands will increase from 30.5% to 34.2%, with another rise to 37.8% scheduled for the following year.

These escalating tax rates have already prompted other operators, such as Flutter Entertainment’s Tombola, to withdraw from the market. LiveScore Bet’s exit marks another significant departure, reflecting the broader challenges posed by the evolving regulatory landscape.