Yolo Group enters regulated sector following pivot from unregulated crypto
Crypto giant Yolo Group will incorporate its Sportsbet and Bitcasino brands into the single Yolo.com brand in a shift away from unregulated crypto casino into regulated markets.
In an announcement on Tuesday, Yolo Group said it plans to bring its single Yolo.com brand to Tier-1 regulated markets.
“It’s our responsibility to bring the crypto casino experience to regulated domestic markets, working within sensible frameworks and combining speed and freedom with safety and oversight,” the group said in a statement on its Substack.
“It has become abundantly clear that domestic regulators who are offering licences are not keen on other group operations continuing to operate in pre-regulated markets. In other words, you cannot be white and grey; you have to pick a side. This means a crossroads has been reached and a decision must be made. Do we go left or do we go right?
“That’s why we’ve decided it’s time for our next chapter: to bring the best of what we’ve built into Tier-1 regulated markets.”
The company said it is in the final stages of securing a pair of B2B vendor licences for the soon-to-be regulated market in the UAE.
As part of its move Yolo Group will use its skills and experience from the crypto casino experience to enter regulated domestic markets, following a three-year process of research and preparations.
“The direction is clear: the regulated landscape is the future of gaming and we’re ready to lead with the same fearless innovation that got us here,” the group added.
Yolo Group at a ‘crossroads’
The announcement marks a distinct shift in strategy for Yolo, as it found itself at a “crossroads” prior to its decision to move into the regulated space.
Yolo said it believed licensed regulated markets are the sector’s future and will enable the company to connect its land-based and digital businesses through seamless wallet experiences via the Yolo.com brand.
“This isn’t about walking away from the past,” the Yolo statement continued.
“It’s about taking everything we’ve learned, everything we’ve pioneered, and applying it in environments where operators, regulators and players can work together, creating a stronger and more sustainable ecosystem for everyone.”
Alongside its plans in the UAE, Yolo is also aiming to expand into markets such as Canada, Sweden and Finland.
Changes to senior team
Yolo Group has made a number of changes to its senior team of late, with Lara Falzon brought in as CEO of its B2B brands.
Falzon’s role encompasses overseeing brands such as the Hub88 aggregation platform, Live88, Odds88 and OneTouch.
Stephanie Eddy also joined after over a decade with Betway, taking over at chief revenue officer of the B2C arm Yolo Entertainment.