Yolo Group has taken another step in its journey to shift focus to regulated markets through the awarding of two vendor licences in the United Arab Emirates.
The General Commercial Gaming Regulatory Authority (GGRA) has approved the group’s subsidiaries, Hub88 Holdings Ltd (hu88.io) and Live Online Gaming Services LLC (comprising Live88.io and Onetouch.io), to supply iGaming content to the burgeoning UAE market.
As such, Live88 will be the first online live casino studio licensed by the jurisdiction.
Tim Heath, Founder of Yolo Group, described the approval as a “statement of intent” for the company’s future roadmap.
Last month, Heath explained via a post on Substack that the firm no longer sees grey market activity as a sustainable business model for the crypto gaming firm.
“You cannot be white and grey; you have to pick a side,” he explained. “Crypto is no longer niche. Regulators and financial institutions are finally recognising the transformative role it plays. Players everywhere expect speed, accessibility and inclusion as standard. What was once radical is now becoming mainstream.”
As part of the shift, the company’s two major brands, Sportsbet.io and Bitcasino.io, have merged under the new unified name of Yolo.com. The brand is now targeting regulated market launches in Canada, Sweden and Finland.
UAE landscape takes shape
Although Yolo has not yet sought approval for its flagship brands in the UAE, gaining B2B licences for two of its subsidiaries may lay the foundation for further growth in a country that is positioning itself as a regional hub for the gaming industry in the Middle East.
The company is also entering a market that appears to align with its vision for innovating the industry, as Yolo seeks to do through the expansion of crypto-led gaming in regulated markets worldwide.
Speaking at SBC Summit, the GCGRA’s CEO, Kevin Mullally, confirmed that technology will lead the jurisdiction’s regulatory framework.
He told attendees: “Figure out how to entertain your customers in the best way you can, and we will figure out a way to regulate it.”
“Whatever you bring us, we will design a way, we will make sure it’s safe. We will make sure that we have data to ensure that the customer experience is protected. We want the technology providers to focus on entertainment, not look at the regulations and have to design games within this box.”
Yolo Group joins notable names such as Aristocrat, Novomatic and Scientific Games in securing a Gaming-Related Vendor Licence from the GCGRA.
In August 2024, The Game LLC received the country’s first gaming licence, authorising it to operate the UAE lottery.
Meanwhile, Wynn Resorts has embarked on a $3.9bn project to develop the Wynn Al Marjan Island integrated resort – slated to open in March 2027.
“The UAE is setting the stage for what modern, regulated gaming should look like, and we are proud to be part of that journey,” concluded Heath.
