LiveScore Group to restructure after leaving the Netherlands
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28 Nov 2024 •
Reading time: 2 minutes LiveScore Group has announced that the company is going to restructure significantly. This decision follows the earlier news that LiveScore Bet, one of its brands, is leaving the Dutch market. The reason? According to the company, the announced increase in gambling tax makes it impossible to remain profitable in the Netherlands.
The reorganization affects more than 100 functions, spread across several locations, including the head office in London. CEO Sam Sadi of LiveScore Group called the restructuring “a difficult but necessary decision”. In a statement, he said:
“We have not taken this decision lightly. It is a difficult time for all of us, as we say goodbye to colleagues who have been important to our success.”
Exit from the Netherlands due to gambling tax
LiveScore Bet announced in November that they were leaving the Dutch market. Players received an email stating that they could no longer deposit money from Monday 25 November. On Friday 29 November, the company will finally close its digital doors to Dutch customers.
CEO Sadi warned in August that the tightened rules and tax increases would have a major impact. He indicated at the time that the company probably would never have applied for a license if they had known what was coming. “The market is simply no longer commercially viable.” he said in response to the tax increase.
LiveScore is not the only gambling company to make this choice. In September, bingo site Tombola also withdrew from the Netherlands for the same reasons. Since October 1, Dutch players can no longer go there.
What does this mean for the future?
LiveScore Group emphasizes that the restructuring is intended to prepare the company for the future.
“We have achieved a lot in recent years. Now it is time to adapt our organization so that we can continue to grow sustainably.”
Sam Sadi
He added that involved employees will receive guidance and support during this difficult period.
Although the focus is now on the restructuring, LiveScore Group says that they will continue to look for new opportunities in other markets.