Yolo Group has informed 280 employees in its Estonia-based Yolo Entertainment division that their positions are under review as part of a major restructuring.
Founder Tim Heath revealed yesterday that the company is in the final stages of securing two B2B gaming vendor licences in the United Arab Emirates (UAE) and plans to consolidate operations under a single regulated brand, Yolo.com.
The group confirmed that around 280 positions at Yolo’s Tallinn headquarters in Estonia are at risk. A two-week consultation process with affected employees has been launched.
The division employs a total of 400 staff across multiple locations, including Estonia, Malta, the Isle of Man, Guernsey, Australia, Spain, and the UK.
More than 600 people are expected to remain with the group in other divisions in Estonia.
In the meantime, staff have begun compiling lists of affected colleagues on LinkedIn to share with potential employers.
Yolo also confirmed that partners and suppliers have already stepped in to offer opportunities to those impacted.
Strategic shift to regulated markets
The restructuring marks a decisive step in Yolo’s pivot away from its crypto-led roots and toward fully regulated markets.
Heath said the group is realigning around Yolo.com, a regulated brand built on the foundation of its Estonian-licensed land-based property, Bombay Casino.
“This is about aligning the group around a single, fully regulated brand in Yolo.com,” he said. “We’re targeting new, high-potential markets through regulated crypto and fiat channels.”
Yolo Entertainment has historically housed flagship crypto brands Bitcasino.io and Sportsbet.io.
CEO Matthew D’Emanuele, who joined in 2023, has stepped down amid the transition. Sources linked his departure to both the strategic shift and a potential restructuring of ownership.
In an article published yesterday, Heath described the move as long in the making: “We have spent the past three years monitoring and preparing for the potential of this strategic shift.”
Earlier this year, Yolo exited Brazil despite applying for a local licence, citing tough marketing requirements.
Instead, the company is focusing on Europe and the Middle East, with UAE licences expected to pave the way for regional expansion.
“It’s time for our next chapter — to take everything we’ve built and proven, and apply it in Tier-1 regulated markets,” Heath said.
Under the new strategy, Yolo.com will launch as the digital arm of Bombay Club, aiming to “connect land-based excellence with digital innovation: from seamless wallet experiences across physical and online play, to MiCA-compliant cryptocurrency payments in regulated land-based and online casinos.”
The brand is also planning to target regulated markets in Canada and Sweden, as well as the re-regulating market in Finland.
In his article, Heath concluded: “I couldn’t be prouder of how far we’ve come, and I couldn’t be more excited about where we’re going. I want to sincerely thank everyone who has been part of Sportsbet.io and Bitcasino.io — it’s been a crazy ride to the moon. I am, however, very much looking forward to Yolo’s next chapter.”
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‘ Some details of this article were extracted from the following source next.io ’
