Gibraltar-based LiveScore Group reported a 15% uptick in turnover to £206.3 million for the 12-months to 31 March 2025. The growth was largely due to its performance in the UK, as turnover increased 26% to £175.6 million during the period. This accounted for 85% of its overall revenue for FY25.
Its latest earnings were released via Companies House on Friday.
Comparatively, European turnover declined 29% to £16.3 million after LiveScore shuttered its operations in the Netherlands in November 2024 due to increased regulatory pressure in the market. This exit caused £6 million in headwinds during the reporting period.
Analysts at Regulus Partners reported the operator surpassed UK market growth. A note released on Monday suggested its Livescore Bet and Virgin Bet brands outperformed the market by 20 percentage points.
This growth is expected to slow in 2026, as LiveScore’s tax bill in the UK increased to 40% of GGR in April due to the government’s Remote Gaming Duty increase. Regulus estimates this could cost between £20 million and £25 million before any mitigation efforts are enforced.
For rest of world, turnover declined 14% to £14.4 million, Regulus estimated this could have been due to “softness in Nigeria”.
By business unit, B2C by far accounted for the majority of its turnover in FY25 (90%). Meanwhile B2B advertising accounted for 9% of overall turnover during the period.
LiveScore FY25: The bottom line
Bottom line gross profit increased in its 2025 financial year by 14% to £158 million, while cost of sales also increased 18% to £48.4 million. The group incurred an operating loss of £26.7 million, down from £50.7 million in 2024. EBTIDA loss hit £15.2 million, marking a YoY improvement of 61%.
In November 2024 the group incurred costs of £3 million relating to restructuring and streamlining. This line item was reported as redundancy costs.
The operator’s earnings report said this reduced loss “resulted from a gross profit increase that outpaced ongoing significant investment in marketing and the Livescore brand”.
LiveScore’s Virgin Bet brand was launched in South Africa in March, marking its first move outside the UK.
Original article: https://igamingbusiness.com/finance/livescore-outperforms-uk-market-in-fy25/
