The sports media and gaming firm, LiveScore, has received a strategic investment of £50 million (58 million euros/57.4 million dollars) from Ringier AG, a Swiss media giant. This investment values the company at £500 million.
LiveScore plans to use the funding to expand its operations worldwide.
The LiveScore group comprises three brands: LiveScore, LiveScore Bet, and Virgin Bet, encompassing both sports media and gaming.
Ringier recently established its own sports media division, known as the Ringier Sports Media Group.
Sam Sadi, the CEO of the LiveScore group, described the investment as “a major step forward.”
“This is a momentous occasion, with a £50 million strategic investment from Ringier valuing our business at £500 million, we are taking a significant step forward,” stated Sadi.
“Ringier and its sports media group are the ideal partner for us to expedite our entry into Central and Eastern Europe, as they possess exceptional expertise, assets, and connections.”
Following the investment, Stilian Shishkov, a Senior Partner at the Ringier Sports Media Group, will join the LiveScore supervisory board.
Shishkov is also the CEO and founder of Sportal Media Group, Ringier’s Bulgarian subsidiary.
Mark Wald, the head honcho of Global Media Group, chimed in: “LiveScore Group has established itself as a top dog in the industry and will be a fantastic ally for Global Media Group, from dishing out real-time sports scores and free live streaming to millions of users around the globe, to offering the most cutting-edge and trustworthy sports betting options.
“Our shared aim is to boost and elevate people’s enjoyment of sports through innovative products and captivating experiences under the banner of Global Sports Media Group. With the backing of LiveScore Group, we’ll gain a deeper understanding of how people feel about sports and what sports mean to them. Our vision is to spark a passion for sports among fans.”
LiveScore forged a partnership with football superstar Cristiano Ronaldo in 2021, naming him as the company’s brand representative.
Sign up for the iGaming News Newsletter.