Yolo Group is in the final stages of securing two B2B gaming vendor licences in the United Arab Emirates (UAE) as it moves to consolidate its operations under a single regulated brand, Yolo.com.
The licences mark a major step in the company’s pivot from crypto-led gaming towards fully regulated markets.
Founder Tim Heath (pictured) confirmed to NEXT.io that the group’s strategy now focuses on licensed jurisdictions, building on its investment in Estonia’s land-based and online gaming sector.
“This is about aligning the group around a single, fully regulated brand in Yolo.com, which builds on the foundation of Bombay Casino, our Estonian-licensed land-based property,” Heath said.
He added the group is “targeting new, high-potential markets through regulated crypto and fiat channels.”
The shift follows Yolo’s 2023 restructuring into four divisions: Yolo Entertainment, Yolo Platform, Bombay Casino, and Yolo Investments.
Yolo Entertainment has housed flagship brands Bitcasino.io and Sportsbet.io, employing around 400 staff globally.
Matthew D’Emanuele, who was appointed CEO of Yolo Entertainment in 2023, told NEXT.io earlier this year that regulation is central to the group’s strategy: “It’s about gaining expertise and operating freely in key jurisdictions.”
Wider group operations
Market speculation points to potential partnership or ownership developments within Yolo Entertainment, although no formal announcements have yet been made.
NEXT.io understands that D’Emanuele has tendered his resignation, with sources suggesting the the move is connected to the strategic pivot to Yolo.com and possible ownership restructuring within Yolo Entertainment.
Yolo’s origins date back to 2014, when Heath transformed a Bitcoin poker network into Bitcasino.io, one of the first crypto casinos.
Two years later, Sportsbet.io launched and quickly grew into a leading crypto-based sportsbook.
The group says the pending UAE licences are expected to pave the way for further regional expansion.
The next chapter
“We have spent the past three years monitoring and preparing for the potential of this strategic shift,” Heath revealed today (23 September).
Earlier this year, Yolo already made the strategic decision to exit Brazil, despite initially applying for a local licence.
“We had success there, even started the licensing process, but when we looked deeper at the marketing requirements and competitiveness, we felt there were other opportunities more worthy of our focus,” D’Emanuele said in March.
Beyond Yolo Entertainment, the group also runs Yolo Platform, home to content aggregator Hub88 and other B2B services, and Yolo Investments, its venture capital arm with more than €700m in assets under management across gaming, fintech, and blockchain.
Yolo has also made a significant investment in Bombay Casino, which allows crypto deposits and withdrawals under MiCA-regulated frameworks.
Speaking to NEXT.io, Heath said going forward, the business is focused on “facilitating the crypto casino experience in licensed environments where innovation, speed and freedom are balanced with safety and oversight.
“We’ve decided it’s time for our next chapter – to take everything we’ve built and proven, and apply it in Tier-1 regulated markets.
“This isn’t about leaving the past behind, but about carrying our DNA forward into places where regulators, operators and players can work together to create a stronger, more sustainable ecosystem,” he added.
Teasing an industry first
In an article titled “The next chapter … Black or white, because the grey is disappearing quickly” published last week, Heath hinted at the changes to come.
“Fast forward to 2025. The Yolo Group has two very successful crypto sites, Bitcasino.io and Sportsbet.io,” Heath wrote. “We aren’t the biggest site in the world, but we have a hugely loyal database of players, particularly VIPs.
“I’m very proud that we have consistently operated with responsibility at our core. Our policies are strong, and our responsible gaming tools are among the best in the crypto casino segment. This commitment to responsibility is something we will carry forward into our next chapter in fully regulated markets. We respect our customers, and they respect us.”
Looking ahead, Heath suggested the industry faces a defining moment:
“It is becoming increasingly clear that the worlds of regulated and pre-regulated gaming will no longer co-exist in peaceful harmony. Whichever side of the regulatory table you sit on, it will soon be time for operators to make a choice and push all their chips forward onto a single regulatory colour.”
For Heath, Yolo’s direction is clear:
“It is about redefining gaming itself. We are building something the industry has never seen before — a unified ecosystem that brings land-based and online gaming together under one wallet, powered by crypto and technology. It is a step beyond compliance; it is innovation that will shape the future of gaming in a fun, fast and (regulated) fair way.”
In October 2024, Aristocrat became the first international supplier to receive a Gaming-Related Vendor Licence from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA).
Since then, other major vendors, including IGT, Novomatic and Light & Wonder, have joined the licensing regime, expanding the supplier ecosystem in one of the world’s newest regulated jurisdictions.
