LiveScore has declared that it has obtained a £50 million (€58 million/$57.4 million) strategic financial backing from Swiss media giant Ringier AG.
This investment places a value of £500 million on LiveScore’s gaming and media operations. LiveScore states that the funds will be used to broaden its business worldwide. The LiveScore Group comprises three brands – LiveScore, LiveScore Bet and Virgin Bet – encompassing sports media and wagering. Recently, Ringier established its own dedicated sports media division known as Ringier Sports Media Group. Sam Sadi, Chief Executive Officer of the LiveScore Group, referred to the investment as “a significant step forward.” “This is a momentous occasion for the LiveScore Group as we secure a £50 million strategic investment from Ringier, valuing our enterprise at £500 million,” Sadi remarked. “Ringier and its Sports Media Group are the perfect partner for us to expedite our expansion into Central and Eastern Europe, given their extensive expertise, assets and connections.” Subsequent to the investment, Stilian Shishkov, Senior Partner at Ringier Sports Media Group, will join the LiveScore board of directors. Shishkov is also the Chief Executive Officer and founder of Sportal Media Group, Ringier’s Bulgarian operation.
Mark Wald, the head of Global Media Group, stated: “LiveScore Group has established itself as a top player in the industry and will be an excellent collaborator for Global Media Group. They will provide real-time sports scores and free live broadcasts to millions of people globally, along with offering the most cutting-edge and reliable sports betting options.
“Our shared objective is to improve and enhance people’s enjoyment of sports through innovative products and engaging experiences, under the operational guidance of Global Sports Media Group. With LiveScore Group, we will gain a deeper understanding of how people feel about sports and their significance. Our vision is to fuel fans’ enthusiasm for sports.”
In 2021, LiveScore formed a partnership agreement with football star Cristiano Ronaldo, naming him as the company’s brand representative.
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