LiveScore Group CEO Sam Sadi was tasked with leading the company into a new era following its demerger from Gamesys Group in September 2019. As he approaches his sixth year as CEO, Sadi has successfully expanded the sportsbook and media platforms into an international operation employing over 600 people worldwide.
Under Sadi’s leadership, LiveScore Group has held strong positions in key markets including the UK, Ireland, and Nigeria, buoyed by the performance of its brands: LiveScore Bet, Virgin Bet, and LiveScore Media. For the fiscal year ending on 31 March 2024, LiveScore Group reported impressive revenues of £179 million, with £157.9 million attributed to its gambling activities.
The group also ventured into Bulgaria with the launch of LiveScore Bet in February, although challenges have arisen due to a recent country-wide ban on gambling advertising. Additionally, the group has exited some markets, including the Netherlands, concluding their operations there by December 2024.
Transition has been a theme for the past year, with LiveScore Bet and Virgin Bet transitioning from the DraftKings’ B2B platform to Kambi’s services, a move Sadi saw as essential for fostering a “long-term, stable partnership.”
**EGR:** Group revenue rose 38% year-on-year to £179 million in 2023-24, while losses diminished by 18% to £50.7 million during a period you described as a “development phase.” What did this phase entail?
**Sam Sadi (SS):** This past year was pivotal, as we shifted our platform foundations, which temporarily slowed our pace in innovation and technological enhancements. This shift was crucial for gearing up for international expansion. While we’ve had considerable success in the UK and Ireland, diversifying our revenue streams is necessary. This development phase set the groundwork for future growth, and the expansion of LiveScore Media has started tapping into new revenue avenues, reducing our reliance on major sources.
**EGR:** How do the figures for 2024-2025 so far compare with the previous year?
**SS:** The progress has been significant. Our growth has been consistent and predictable, characteristics that are highly valued by our investors. We’re looking at a growth trajectory of 20% to 30% per year for the next three to four years, emphasizing the necessity for international expansion. This steady growth is a testament to our effective business model and strategy.
In January 2025, Virgin Bet was commended by research firm Regulus Partners for its customer acquisition success.
**SS:** Using the Virgin brand has substantially benefited us, more than we initially anticipated. It’s among the most cherished consumer brands in the UK and other regions, forming a core part of our strategy. We’re gearing up to launch in South Africa soon, which should further boost our investment in this brand.
Additionally, our dual-growth approach through LiveScore Media and LiveScore Bet is proving effective. Both sectors are performing robustly, fostering a healthy internal rivalry that benefits our overall business strategy.