Over a year after its high-profile exit from the Dutch market, LiveScore Group, which operates LiveScore Media, LiveScore Bet, and Virgin Bet, has reported a significant narrowing of its operating losses.
Financial results for the period ending March 2025 show that operating losses fell by nearly half to £26.7m, down from £50.7m in the previous fiscal year.
UK Performance and the 40% Tax Threshold
The improved fiscal health was largely driven by the group’s UK operations, where turnover surging from £139.2m to £175.6m offset revenue lost following the withdrawal from the Netherlands. The decision to leave the Dutch market was fueled by a prohibitive 37.8% tax rate, which CEO Sam Sadi argued made the region commercially unviable.
However, the UK market itself is entering a challenging phase with a new 40% tax on online casino GGR implemented this April. Sadi remains confident, stating that the group’s decision to exit over-taxed markets like the Netherlands and Bulgaria has been “validated,” allowing LiveScore to remain robust and agile while smaller firms may struggle under the new UK financial burden.
Strategic Expansion in Africa
LiveScore is now looking toward emerging markets outside of Europe to maintain its momentum. The group has officially launched Virgin Bet in South Africa, building on its established presence in Nigeria.
While “Rest of World” turnover saw a slight 14% dip to £14.4m, the South African launch represents a major opportunity to tap into a booming mobile-first iGaming demographic. As the industry faces a critical two-year juncture in the UK, LiveScore’s move into more beneficial tax frameworks globally positions the group for long-term profitability.
