LiveScore Group Reports 38% Revenue Growth in 2024

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LiveScore Group announced total revenue of £179.1m (€215.8m/$222.3m) for the year ending March 31, 2024, reflecting a 38% increase compared to the previous year.


Most of this revenue comes from LiveScore Group’s betting and gaming division, which generated £158 million. In a Companies House filing dated December 31, the operator detailed its revenue by market, highlighting the UK as a crucial region. Revenue from the UK market increased by 78%, reaching £139 million during the period.

Revenue from the rest of Europe totaled £23 million, while the rest of the world (RoW) saw a 10% increase, reaching £16.8 million. Regulus Partners believes Nigeria dominates the RoW segment.

LiveScore reported an 18% reduction in operating losses, bringing them to £50.7 million for the 12-month period. Gross profit reached £138.1 million, a 38% year-on-year increase. Despite a 38% rise in the cost of sales, group profit saw significant growth. Distribution costs, primarily driven by marketing expenses, increased by 21% to £101.2 million in 2024.

The company ended the year with £293.5 million in net assets, up from £287.3 million in 2023. Additionally, the report highlighted a £20 million loan facility provided by shareholders in September 2023.

Regulus Partners mentioned:

LiveScore has continued to grow market share in the UK with a highly successful content-led customer acquisition model as well as leveraging the Virgin brand.

However, while this is impressive at the revenue and customer engagement level, evidence of strategic cost cutting can be seen both in terms of moving the betting product to Kambi (live post period) and the subsequent Netherlands exit (at the end of November 2024). The extent to which strategic differentiation can be turned into operational success is still therefore being tested.