Yolo Group has notified 280 employees within its Estonia-based Yolo Entertainment unit that their roles are under review amid a major restructuring.
Founder Tim Heath announced that the company is close to securing two B2B gaming vendor licences in the UAE and will consolidate under one regulated brand, Yolo.com.
At Yolo’s Tallinn headquarters, around 280 positions are at risk, with a two-week consultation process now underway. The division employs 400 people across Estonia, Malta, the Isle of Man, Guernsey, Australia, Spain, and the UK, while over 600 will continue working in other areas of the group in Estonia.
Employees have already begun sharing lists of impacted colleagues on LinkedIn to connect them with potential employers. Meanwhile, Yolo confirmed that several partners and suppliers have stepped in to provide opportunities for affected staff.
The restructuring signals a shift from Yolo’s crypto-driven background toward regulated markets. Heath explained that Yolo.com will serve as the digital arm of the Estonian-licensed Bombay Casino, combining land-based operations with digital innovation, including seamless wallet integration and MiCA-compliant crypto payments.
Yolo Entertainment has historically been home to crypto brands Bitcasino.io and Sportsbet.io. CEO Matthew D’Emanuele, who joined in 2023, has stepped down, with his departure linked to the strategic realignment and possible ownership changes.
Heath noted the move has been in preparation for three years. Earlier in 2025, Yolo exited Brazil despite applying for a local licence, citing tough marketing conditions. Instead, its strategy now focuses on Europe and the Middle East, with the UAE licences expected to open new regional opportunities.
Tim Heath, general partner, mentioned:
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.
