LiveScore Group has recorded an increase in revenue of 38% year-to-year despite several major market challenges in 2024, marking one of the more successful fiscal years of the company to date.
More specifically, the iGaming behemoth reported a total revenue of £179.1 million (€215.8 million/$222.3 million) for the 12 months until 31st of March 2024, marking an increase of 38%.
Out of this total, the majority of the revenue stems from its online betting and gaming sector, both of which accounted for £158 million of the full amount. LiveScore Group filled out its annual revenue report on the 31st of December, providing a detailed breakdown of its revenues by market.
Judging by the report, the United Kingdom is still the number one market for the group, recording a growth of 78%, or £139 million during the period of one year.
Moreover, Europe accounted for £23 million, whereas the rest of the world is responsible for contributing £16.8 million in total revenue, a figure which is up by 10% when compared to last year.
*Interesting fact: According to Regulus Partners, Nigeria makes for the majority of the revenue from the rest of the world.
Furthermore, LiveScore also reported that the company managed to reduce its operating losses for 2024 by 18%, down to £50.7 million during a 12-month period.
From here, the gross profit for LiveScore during the same period reached £138.1 million, which is also an increase of 38%.
The group profit also spiked despite the increase in cost of sales by 38% when compared to the previous year. Additionally, distribution costs also jumped by 21% to £101.2 million in 2024, and these are largely attributed to marketing expenditures.
LiveScore ended the year with £293.5 million in net assets, a figure that is up from £287.3 million during the 2023 fiscal year.
