LiveScore nets £50m investment by Ringier to expand global coverage
LiveScore Group has secured a £50m strategic investment from leading DACH markets publishing group Ringier AG to accelerate its global expansion.
The £50m cash injection will be used to scale up LiveScore’s flagship portfolio of brands – LiveScore, LiveScore Bet and Virgin Bet – across new and established markets and will be supported by the newly formed Ringier Sports Media Group.
Zurich-headquartered Ringier AG strategic investment has valued LiveScore Group’s gaming and media business at £500m, in which dealmakers will establish the leading digital sports media publisher for Central and Eastern European markets.
Sami Sadi, CEO of LiveScore, explained: “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50m strategic investment from Ringier which values our business at £500m.
“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.”
Last year, Ringier AG expanded its presence in online betting media by acquiring a majority stake in CEE sports publisher Sportal BG Media Group, an investment that led to the founding of the Ringier Sports Media Group.
The investment will bolster Ringier Sports Media Group with the most comprehensive coverage of Eastern European sports media, combining new LiveScore assets with its existing portfolio of Sportal Bulgaria, Gazeta Sporturilor in Romania, and Sportal.rs in Serbia.
“Ringier Sports Media Group has very purposefully put into practice its founding promise, to unite leading digital sports media brands under its umbrella,” said Robin Lingg, Chairman of the Ringier Sports Media Group Supervisory Board:
“The participation in LiveScore Group is another decisive step to develop innovative products based on common technologies in the future and to benefit from the exchange of know-how. That a leading business such as LiveScore Group has agreed to work closely with us in strategic partnership is truly a tribute to our vision of sports media at Ringier.”
Following the investment, Stilian Shishkov will join the Supervisory Board of LiveScore Group. Shishkov is currently Senior Partner of the Ringier Sports Media Group, as well as founder and CEO of Ringier`s Sportal Media Group in Bulgaria.
Ringier AG investment marks a further transformative deal carried out by igaming pioneer Noel Hayden, the founder of Gamesys who has served as LiveScore Chairman since 2019.
Hayden commented: “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.”
Source: SBC News
