“Yolo” Secures UAE Gaming Licence
Live88 the first licensed online live casino studio in the UAEYolo Group now has a licence, permitting it to supply iGaming content in the UAE.
Next Steps for UAE Market Regulation
- Licences issued to Yolo Group for UAE iGaming supply.
- The UAE is the first jurisdiction in the GCC to introduce gaming regulation.
- A regulated landscape is set to change the future of gaming in the country.
UAE Gaming Vendor Licences for Yolo Group
More Gaming-Related Vendor licences have been issued, and this time, the lucky recipient is Yolo Group. It enables the group to supply iGaming content in the UAE, which is currently developing a regulated market. Yolo Group oversees several brands, including Sportsbet.io, Bitcasino.io and Bombay.
The licences granted relate to two specific components. One is Hub88 Holdings, and the other is Live88. The latter is significant as it will bring the first regulated online live casino games to the market. At present, the company will keep certain operations at its base in Estonia, but will gradually scale production across the Gulf Cooperation Council (GCC) countries.
Adjusting to Regulated Markets
The move is a significant one for the UAE and its regulated market. However, it’s also pivotal for Yolo Group. It clearly signifies the group’s intent to focus on regulated markets and to be a part of the future of iGaming. The potential in the UAE market could present opportunities for growth and innovation.
Based on the company’s previous activities, it’s clear that it was moving more towards unregulated markets. The focus had primarily been on cryptocurrencies. The move to be licensed and focus on regulated markets will mean adjustments will need to be made to maintain the correct processes and standards.
One particular change has already been confirmed. The Sportsbet and Bitcasino brands are merging to become Yolo.com.
GCGRA Licences
Since the General Commercial Gaming Regulatory Authority (GCGRA) was established, it has issued several licences. It recently issued Konami a Gaming-Related Vendor licence. With the issuing of these two new licences for Hub88 and Live Online Gaming Services, the number of licensed vendors rose to 16.Â
We can expect more to come in the Gaming-Related Vendor licence category in the future. The licences authorise the companies to do business in commercial gaming in the UAE. The process involves screening, assessment and evaluation as well as reporting and monitoring.
Regulated Market: The Timeline
At the time that these new licences were issued, the regulatory authority was still in the fairly early stages of licensing. As such, it has issued three types of licences from the possible five. Those are a Lottery licence, one Land-Based Gaming Facilities licence, and sixteen Gaming-Related Vendor licences.
It also has the capacity to grant Internet Gaming and Sports Wagering licences. At present, it hasn’t licensed any operators in those categories. However, that’s something that UAE players can look out for in the future.
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Suhair is a seasoned content creator with 20 years of experience, holding a Master's degree in Political Science. With expertise spanning iGaming, marketing, media, and government relations, she brings a unique perspective to online gaming. Suhair's global outlook enriches her writing because she speaks four languages and has lived in five countries. When not crafting compelling content, she enjoys traveling, immersing herself in diverse cultures, and practicing yoga. Her passion for learning and exploration makes her a captivating voice in the Middle East's online gaming scene.