LiveScore Group has reported a 15.3% year-on-year (YoY) rise in revenue for the 12 months ending 31 March 2025, as bosses insist there is “sufficient resilience” in the business to cope with the UK’s gambling tax hikes.
The report, which was made available on Companies House over the weekend, showed revenue grew YoY from £179m to £206.3m.
Operating losses shrunk by almost half, falling from £50.7m to £26.7m, while EBITDA losses dropped by 60.8% to £15.2m.
Management said the losses were in line with expectations and “overall growth plans as the business incurred significant expansion and marketing costs”.
“The reduced operating profit loss resulted from a gross profit increase that outpaced ongoing significant investment in marketing and the LiveScore brand.”
The privately owned operator runs LiveScore Bet and Virgin Bet, while also operating the LiveScore media brand, centred on its live sports scores app.
As per EGM data, LiveScore Bet is the dominant brand in terms of traffic, accounting for almost 66%.
LiveScore Group’s B2C gambling operations accounted from £185.1m of group revenue, with the division jumping from £156.5m in 2024.
The media and affiliate arm revenue slipped slightly from £21.1m to £19.1m. Just over £2m was generated from software development.
Geographically, the UK and Ireland remained the dominant region for the operator, with revenue rising from £139.2m to £175.6m.
Rest of Europe revenue decreased from £23m to £16.3m, while the Rest of the World fell from £16.8m to £14.4m.
During the reporting period, bosses pulled LiveScore Bet from the Netherlands due to the rising taxes and advertising restrictions.
The previous Dutch government increased gross gambling tax (GGR) from 30.5% to 34.2% in January 2025, yet the rate rose again, this time to 37.8%, in January 2026.
LiveScore Bet exited the market in November 2024, though the brand remains live in the UK, Ireland and Nigeria.
A move into Bulgaria was short-lived, with the operator exiting the market at the end of 2025, less than a year after launch.
Staff costs, including directors, for the period leapt from £38.2m to £46.3m despite the headcount remaining flat at 643.
Directors’ remuneration slipped from £918,001 to £589,345. The filing notes LiveScore Group has three directors.
Base pay for the directorsdeclined from £880,651 to £568,235, while pension contributions slid from £37,350 to £21,110.
LiveScore Group confirmed around 100 redundancies back in November 2024 after its exit from the Netherlands.
The latest Companies House accounts note that the “restructuring process to streamline its operations” cost £3m.
Cash at the bank and in hand for the company ticked up from £20.5m to £22.5m.
On the UK tax hikes, which were announced in the Autumn Budget last year, LiveScore Group, which also operates gaming product LiveScore Vegas, said it would be able to handle the duty increases.
Remote gaming duty jumped from 21% to 40% on 1 April, while remote general betting duty will go from 15% to 25% in April 2027.
The report read: “In assessing going concern, the directors have also considered the impact of the changes to UK remote gambling taxation announced in the UK government’s 2025 budget.
“These measures include a significant increase in the remote gaming duty applying to online casino-style activities […] and an increase in the duty applicable to remote betting activities.
“The directors have reviewed the group’s financial forecasts, taking into account these revised duty rates, as well as updated market projections.
“While the increases will result in higher operating costs for the group’s UK activities, the directors note that the group’s diversified revenue base, ongoing operational efficiencies and strong growth trajectory provide sufficient resilience to absorb the additional tax burden.”
The post LiveScore Group revenue up 15% with bosses confident of absorbing UK tax hikes first appeared on EGR Intel.
LiveScore Bet and Virgin Bet parent records a reduction in losses amid growth phase disclosed in latest accounts filed with Companies House
The post LiveScore Group revenue up 15% with bosses confident of absorbing UK tax hikes first appeared on EGR Intel.