LiveScore Group secures £50m investment ahead of global expansion plans
Ringier AG inks strategic partnership with Sam Sadi-led firm as it eyes Eastern European gains
LiveScore Group has secured a £50m investment from Swiss media and technology firm Ringier AG in a move which now values the igaming and media firm at £500m.
The new eight-figure capital injection will be used by LiveScore Group to facilitate its global expansion plans, beginning with Eastern Europe.
LiveScore Group, which was demerged from Gamesys Group in 2019, is made up of LiveScore Bet, Virgin Bet and its LiveScore media portal.
The company currently operates its B2C business in the UK, Ireland, the Netherlands and Nigeria.
Meanwhile, the Ringier Sports Media Group includes over 130 companies across Romania, Bulgaria, Serbia and Africa.
These include Sportal Media Group and Digital Ventures OOD in Bulgaria, Gazeta Sporturilor in Romania, Sportal.rs in Serbia and Pulse in Africa.
LiveScore Group noted Ringier’s experience in these regions, citing the company as one of the “pre-eminent media businesses” in Europe.
Following the investment, Stilian Shishkov, a senior partner at the Ringier Sports Media Group, will join the LiveScore Group supervisory board.
During the process, Moelis & Company LLC acted as financial advisor and CMS acted as legal advisor to LiveScore Group. DLA Piper acted as legal advisor and KPMG as financial advisor to Ringier AG.
Sam Sadi, LiveScore Group CEO, said: “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50 million strategic investment from Ringier which values our business at £500m.
“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,” he added.
Marc Walder, Ringier AG CEO, commented: “LiveScore Group has demonstrated it is already a true industry leader and will be a fantastic business partner for Ringier.
“Together, we aim to enhance, and increase the enjoyment of sport, through innovative products, and immersive experiences under the operational lead of the Ringier Sports Media Group.”