Ringier AG invests £50m in LiveScore Group

LiveScore Group aims to expand internationally.
LiveScore Group aims to expand internationally.

The Swiss media conglomerate has made a strategic investment in the gaming and media business.

UK.- The Swiss media group Ringier AG has made a £50m investment in the sports media and gaming business LiveScore Group, which runs the brands LiveScore, LiveScore Bet and Virgin Bet. The new investment takes LiveScore’s valuation to £500m.

LiveScore said it would use the investment to expand globally in sports media and gaming. Ringier has its own Sports Media Group. Stilian Shishkov, a senior partner in the division and founder and CEO of Sportal Media Group in Bulgaria, will join LiveScore’s supervisory board.

LiveScore Group CEO Sam Sadi said: “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.”

Ringier CEO Marc Walder said: “From delivering real-time sports scores and free-to-air live streams to millions of global users, to offering the most innovative and trusted sportsbook betting opportunities, LiveScore Group has demonstrated it is already a true industry leader and will be a fantastic business partner for Ringier.

“Together, we aim to enhance and increase the enjoyment of sport through innovative products, and immersive experiences under the operational lead of Ringier Sports Media Group. With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport.”

Last year, LiveScore named the footballer Cristiano Ronaldo as brand ambassador.

See also: SIS names Bartlomiej Michalek as commercial manager for UK and Europe

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