LiveScore Group is set to cut over 100 jobs across multiple business locations, including London, as part of a restructuring move. Announced this week, the changes were described as “a difficult yet important step” for LiveScore Group, seeking to streamline the business for long-term sustainable growth.
All employees impacted by the decision have been informed and are now subject to a confidential consultation process, the company announced. The exact details of the restructuring are not yet fully clear.
Sam Sadi, CEO of LiveScore Group, said: “On behalf of all Directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organization and ensure our internal structures allow us to achieve long-term and sustainable success. This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”
LiveScore Bet to exit the Netherlands market
The announcement follows on from the recent news that LiveScore Malta Limited (part of LiveScore Group) is to withdraw its LiveScore Bet brand from the Netherlands on November 29. The decision follows recent government tax increases in the market.
While LiveScore Bet was among the first 10 entrants to the Netherlands iGaming market in 2021, it now becomes the latest to exit the region amid a recently announced tax hike. From January 1, 2025, the 30.5% tax on gross gaming revenue jumps to 34.2%, afterward increasing again to 37.8% in the following year.
Sadi said last week that it was a “difficult decision” to withdraw LiveScore Bet from the Netherlands. “Unfortunately, the planned tax increase means that this market is no longer viable commercially,” he added.
The redundancies announced this week also include those impacted by the Dutch market exit. There will be no other customer impact in any of the remaining LiveScore, LiveScore Bet, or Virgin Bet sites globally, the company clarified.
Original article: https://www.yogonet.com/international/noticias/2024/11/21/86089-livescore-group-to-cut-over-100-jobs-as-part-of-internal-restructuring-plan
