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LiveScore receives $51M strategic investment from Ringier AG in new partnership – Yogonet International
LiveScore Group and Ringier AG announced Wednesday a new strategic partnership with the Swiss-based media and technology company making a GBP 50 million ($51.1 million) investment in LiveScore’s sports media and gaming business. This agreement is set to fuel the expansion of the vertical, which involves brands such as LiveScore, LiveScore Bet and Virgin Bet.
“LiveScore Group is a rapidly scaling business, which has made significant share gains in highly competitive markets,” the companies noted in a press release, and explained that this has been achieved through “leveraging its differentiated customer acquisition funnel with bespoke gaming integrations across its LiveScore assets.”
Meanwhile, Ringier has launched its Sports Media Group division, which “boasts a thriving portfolio of innovative businesses which are changing the way global audiences interact and engage with sport.”
The new strategic investment in LiveScore Group will specifically accelerate growth across key Central and Eastern European territories, a notable strength of Ringier’s sports media assets. Following the investment, Stilian Shishkov will join the Supervisory Board of LiveScore. Shishkov is currently Senior Partner of Ringier Sports Media Group, as well as founder and CEO of Ringier Sportal Media Group in Bulgaria.
Stilian Shishkov
Sam Sadi, CEO LiveScore Group, 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 £500 million.”
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“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.
The new investment comes after three years of “eye-catching performance” for LiveScore Group, founded in 2019 by former Gamesys Chairman and co-founder Noel Hayden, and led by industry veteran Sam Sadi.
Noel Hayden, Executive Chairman at LiveScore Group Board, said: “I’m excited to see two of the most innovative sport and media businesses form a game-changing new relationship. This is a breakthrough moment which will allow LiveScore Group to maximise strategic opportunities together with Ringier, and to deliver better experiences and value for sports fans around the world.”
Marc Walder, CEO of Ringier AG, concluded: “From delivering real-time sports scores and free-to-air live streams to millions of global users, to offering the most innovative and trusted sportsbook betting opportunities, 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 sports, through innovative products, and immersive experiences under the operational lead of the Ringier Sports Media Group. With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport,” he added.
The Ringier Sports Media Group includes the sports brands of Sportal Media Group and Digital Ventures OOD in Bulgaria, Gazeta Sporturilor in Romania, Sportal.rs in Serbia and Pulse in Africa. The group’s portfolio “is set to grow strongly in the coming months” through mergers and acquisitions as well as newly launched products, a press release says.
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