LiveScore Group announces restructuring, confirms 100 layoffs

In the ever-changing world of gaming and betting, LiveScore Group is the latest company to announce restructuring plans, including a reduction in its workforce, a move which reflects broader trends across the industry.

LiveScore Group becomes the latest gaming industry company to resort to layoffs

In a statement on its website on Tuesday, LiveScore Group said that the internal restructuring process is expected to impact more than 100 existing roles across multiple business locations, which includes London, the United Kingdom.

LiveScore Group has acknowledged the difficulty of the decision but said that it was necessary for the company to carry forward. The news comes amid similar developments in other high-profile companies in the industry, including Better Collective and Catena Media, both of which announced layoffs of their own.

Commenting on this new development, LiveScore Group CEO Sam Sadi said that the company was saddened by the difficult decision to begin this internal restructuring process, which will impact a significant number of the company’s employees.

"Whilst 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," Sadi said.

This is not a first for the company, however, as LiveScore Malta Limited, which is part of the LiveScore Group, has previously confirmed that it will be withdrawing the LiveScore Bet brand from the Netherlands, citing increasingly difficult operational conditions, including a decision by the government to increase the tax rate levied on the gambling industry.

With the Netherlands set to increase the tax rate to 37.8% of gross gaming revenue from the current 30.5%, LiveScore has confirmed that it will not be able to maintain its operational edge in geolocation. No other planned cuts are anticipated for the LiveScore Bet and Virgin Bet platforms elsewhere, however, the company assured in the press statement.

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