Yolo Group announced that its subsidiaries, Hub88 Holdings and Live Online Gaming Services, have obtained gaming supplier licenses issued by the United Arab Emirates, allowing them to provide iGaming content to the regulated market in the UAE. The licenses, issued by the UAE General Business Gambling Regulatory Authority (GARB), mark Yolo Group's official entry into the first regulated gambling market in the Gulf Cooperation Council (GCC) region. Following the acquisition of the licenses, Live88 will become the first approved online live entertainment studio in the region. This move is an important step in Yolo's strategic transformation from focusing on unregulated cryptocurrency casinos to regulated markets, and the company also confirmed the integration of its Sportsbet and Bitcasino brands into the unified platform Yolo.com.
License Details and Regulatory Background
Yolo Group announced that its two subsidiaries, Hub88 Holdings and Live Online Gaming Services, have obtained gaming supplier licenses issued by the United Arab Emirates. These licenses were formally issued by the UAE government's independent agency, the General Business Gambling Regulatory Authority (GARB).
The licenses allow Yolo to provide iGaming content to the regulated market in the UAE, marking the company's official entry into this emerging regulated market. The UAE is the first country in the Gulf Cooperation Council (GCC) region to regulate gambling activities.
Business Expansion and Regional Impact
After obtaining the licenses, Yolo's subsidiary Live88 will become the first approved online live entertainment studio in the region. The company stated that product development and testing will continue in Estonia and will gradually expand to other countries in the Gulf Cooperation Council.
This move will support Yolo in establishing a business presence in the Gulf region and providing iGaming services that meet regulatory requirements to players in the area.
Corporate Strategy and Brand Integration
Obtaining the UAE license is an important component of Yolo Group's strategic transformation. The company previously focused mainly on unregulated cryptocurrency casino operations but has recently shifted towards regulated markets.
At the same time, Yolo confirmed the integration of its Sportsbet and Bitcasino brands into the unified Yolo.com brand. This integration is the result of a three-year strategic study prepared by the company, with the main goal of introducing Yolo.com to primary regulated markets.
Management Statements and Vision
Yolo Group founder Tim Heath stated: "Obtaining these licenses in the UAE is not just a regulatory achievement but also a statement of intent. The company is committed to building the future of the gaming industry based on trust, transparency, and world-class innovation."
He added: "The UAE is laying the foundation for a modern, regulated gambling industry, and we are proud to be part of this process."
Regulatory Compliance and Operational Requirements
Juan Ignacio Ibáñez, Secretary-General of the MiCA Cryptocurrency Alliance, offered an industry perspective on Yolo's strategic transformation. He pointed out that entering regulated markets involves more than just paying licensing fees; it requires companies to undergo comprehensive process adjustments.
"Preparing to operate in regulated markets involves significant changes," Ibáñez said. "It requires establishing internal processes that were not previously in place, which will indeed change the way companies operate and how teams work."
Market Opportunities and Regional Potential
As the first country in the Gulf region to regulate gambling, the UAE provides new market opportunities for international operators. The region's regulatory framework is gradually improving, creating development space for legitimate iGaming businesses.
Yolo's entry may pave the way for other international operators to enter the market, promoting further development of the iGaming industry in the region.
Product and Service Planning
Yolo plans to offer comprehensive iGaming content to the UAE market through the newly obtained licenses. The company will continue product development and testing in Estonia to ensure compliance with local regulatory requirements.
After obtaining the licenses, Live88 will focus on developing online live entertainment services, providing high-quality live gaming experiences to players in the region.
Industry Impact and Competitive Landscape
Yolo's acquisition of the UAE license may change the competitive landscape of the iGaming market in the region. As an early entrant, the company has the opportunity to establish a market position and gain a first-mover advantage.
This development may also prompt other international operators to accelerate their entry into the market, driving rapid development of the iGaming industry in the region.
Future Development and Regional Expansion
Yolo stated that after consolidating the UAE market, it plans to gradually expand its business to other countries in the Gulf Cooperation Council. This expansion strategy will be based on the experience and successful practices in the UAE market.
The company believes that regulated markets are the future of the gaming industry and states that it is prepared to lead the industry with innovation.
