Yolo Group has secured gaming-related licenses for its Hub88 Holdings and Live Online Gaming Services subsidiaries in the United Arab Emirates.
The licenses allow Yolo to provide iGaming content to the regulated market in the UAE. The General Commercial Gaming Regulatory Authority, an independent UAE government entity, issued both permits.
Live88 will be the first online live casino studio in the region to secure official approval and licenses. According to Yolo, product development and testing will remain in Estonia before it scales across the GCC or Gulf Cooperation Council countries.
The UAE is the first jurisdiction in the GCC region to regulate gambling.
Tim Heath, founder of Yolo, said that obtaining these licenses in the UAE is more than a regulatory achievement. It is a statement of intent. Yolo Group is building the future of gaming with trust, transparency, and world-class innovation.
He added that the UAE is setting the stage for what modern, regulated gaming should look like and they are proud to be part of that journey.
The new UAE licenses form part of pivot of Yolo towards regulated markets. Recently, the company had placed a strong focus on operating within the unregulated crypto casino space. Nevertheless, it previously changed tack.
This came with confirmation it will incorporate its Sportsbet, as well as Bitcasino brands into the single Yolo.com brand. According to Yolo, the primary goal is to bring Yolo.com to Tier-1 regulated markets. This followed a three-year process of research and preparations for the shift.
The company said at the time of the announcement that the direction is clear: the regulated landscape is the future of gaming and they’re ready to lead with the same fearless innovation that got them here.
Yet, general secretary of the MiCA Crypto Alliance, Juan Ignacio Ibañez, raised certain questions over the switch. He said, speaking to iGB that entering regulated markets is not just a case of paying a license fee.
