LiveScore Group has cut its losses significantly and passed the £200m revenue mark for the year ended 31 March 2025. 

Filing corporate accounts with Companies House, the directorship of LiveScore stands by the continued investment strategy to enhance product efficiencies and improve the margin quality of flagship brands. 

The business, which operates the portfolio of Virgin Bet, LiveScore Media and LiveScore Bet, reported corporate turnover of £206m, reflecting a 15% increase on FY2023/2024 comparatives of £179m.

Year results see LiveScore underscore a significant improvement in fiscal efficiencies as results see the company nearly halve its operating losses to £27m from £51m reported in FY2023/2024.

EBITDA loss also moved closer to breakeven, improving by over 60% as the business went from an EBITDA loss of £38.8m to £15.2m. 

Overall group accounts were closed in-line with expectations as “overall growth plans as the business incurred significant expansion and marketing costs. The reduced operating loss resulted from a gross profit increase that outpaced ongoing significant investment in marketing and the LiveScore brand.”

New Prospects for LiveScore

The business is continuing to invest heavily in marketing, technology and expanding the business globally, exemplified by its recent move into South Africa with Virgin Bet. These costs have been significant for the business and contributed heavily to the £26.7m loss, but revenue is starting to creep up as LiveScore begins to establish a foothold in key markets around the world. 

It wasn’t just expansion for expansion’s sake, however, as the firm exited The Netherlands in late 2024 due to tax increases and advertising restrictions. The business also pulled out of Bulgaria at the end of 2025, citing regulatory challenges in Europe.

Looking ahead, the company will be wary about strategic expansion as tax increases become a staple in key markets around the world. These have recently come into place in its home country, the UK, and talks of a tax increase in South Africa, a market it has just expanded into, have been prevalent. 

Competition in the iGaming space is also beginning to ramp up ahead of the 2026 World Cup, particularly with the emergence of prediction markets, which are not subjected to the same regulations as traditional iGaming companies like LiveScore’s LiveScore Bet and Virgin Bet. 

FY2024/25 for LiveScore showed that the business is moving in the right direction, but the business, which employs over 600 staff according to the filings, will be wary of economic headwinds and increased competition as it continues its global expansion strategy. 

While losses have been cut significantly, tax increases and advertising restrictions are just a couple of potential worries for the group in the future. 

Moving into 2026, management highlights increased regulatory costs and gaming taxation as a principal risk to the business, with a significant adjustment inbound for the start of the UK government applying a 40% tax on remote gambling duties (RGD) as of 1 April. 

A period of alignment will be needed from 2026 onwards as LiveScore will face a new ‘cost pressure environment’ of increased taxes impacting its commercial and investment strategy. As such LiveScore directors have presented ‘no timeline’ for profitability of the business.