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Tim Heath launches new fund within Yolo Investments

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Tim Heath launches new fund within Yolo Investments
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New venture capital fund Yolo Investments has launched a gaming and fin-tech sub-fund, and is now searching for investment opportunities across the gaming and financial verticals.

The main fund – Yolo Investments, launched by Tim Heath in 2020 – assumes all the assets and holdings of the previous fund, Vereeni Investments. This includes investments in more than 50 companies, split across four funds, with an AUM of more than €200 million.

Yolo’s new sub-fund is focused on seed- and A-stage investment opportunities across gaming and fintech. Previous investments include casino content studios OneTouch and Green Jade Games, fintech disruptors coins.io, Credis Bank and Yeahka, and new live casino concept the Bombay Club.

Tim Heath, who until last year was CEO of the Coingaming Group, had invested the last couple of years in gradually stepping away from operationally managing the existing crypto-casino and sports betting operator he founded 10 years ago, to fully dedicating the time and effort to set up Yolo Investments as a licensed venture capital entity.

Alongside Heath, Julian Buhagiar, Steve Tsao and Ragnar Toompere will be General Partners in the Fund, whilst Jaan Lainurm and Maarja Pärt will sit on the board.

Although still relatively new in the VC space, Yolo Investments recently announced its first successful exit, notably a 6x return on its investment in Estonia-based gaming operator Coolbet – which was acquired by GAN Limited in December, as well as a successful public floatation on the Hong Kong Stock Exchange of one of its fintech assets.

The IPO and exit of Yeahka – a leading payment-based technology platform in China providing payment and business services to merchants and consumers, has continued to raise awareness surrounding the increase in numerous Asia-Pacific based unicorns in the fin-tech space.

Tim Heath, GP at Yolo Investments, said: “These new sub-funds in Yolo Investments will continue the fantastic work of Vereeni Investments over the last couple of years. We have already assembled a diverse portfolio of high-growth companies across gaming and fintech and are now looking to build specialised sub-funds to specifically focus on these verticals.

“As well as capital, we are now in a position to provide significant upside to our investments via our network.  With more than €200 million AUM, we are actively searching for disruptive businesses to which we can add value and open for investment from Limited Partners.”

Baltics

Entain Makes $1B Bid for Olympic Entertainment Group

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British betting firm Entain Plc has allegedly made a $1bn buy-out offer for Estonian operator Olympic Entertainment Group (OEG).

Citing anonymous sources, Bloomberg reported that Entain is looking to acquire the company’s online business, OlyBet, alongside its operations in Lithuania and Croatia. The deal would also include an option to buy Olympic’s outstanding business in early 2023 based on its performance.

OEG operates approximately 100 casinos across Europe, the majority of which are located in the three Baltic states of Estonia, Latvia and Lithuania, and its acquisition would see the British betting firm become the region’s market leader. However, neither company has so far issued a statement regarding the rumoured takeover.

If the sale goes through, it will build on Entain’s acquisition of Enlabs AB. The €370m purchase brought the Swedish iGaming company’s Optibet brand — OEG’s chief rival in the online gambling space — under the umbrella of Entain. At the time, the company claimed Enlabs’ acquisition was in line with its expansion into new markets.

Making the acquisition even more likely is the current position of OEG’s owner, London-based private equity firm Novalpina Capital. The company bought OEG for €300m in 2018, but the firm has been rocked by recent developments.

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Baltics

CT Interactive Enters Lithuanian Market with TOPsport

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CT Interactive is about to debut in Lithuania after striking a deal that will see its games live at the TOPsport operator.

“The agreement will expand our reach and strengthen our stronghold in the regulated European markets,” Lachezar Petrov, CEO at CT Interactive, said.

A carefully selected game list from the company’s portfolio that will appeal to players in the specific market will soon be available.

“We have included bestsellers like 40 Treasures, Lucky Clover and Duck Of Luck along with many other titles that TOPsport players will enjoy and come back for more,” Milena Tsankarska, business development manager at CT Interactive, said.

A first of its kind for CT Interactive in the Lithuanian market, this collaboration sees the provider’s first steps in the Baltic country. The supplier’s games are already available in Latvia and Estonia.

“It is great to see our efforts to expand market share pay off with a new partner and new market entry. We value our relationship and co-operation with our new partner. We have high expectations for the market and couldn’t find a better operator to enter the market with,” Petrov said.

“It is a great pleasure to start working together with CT Interactive,” Gintaras Staniulis, CEO of TOPsport, said.

“We believe that a more diverse portfolio will help everyone to find for what they are looking for. We are familiar with CT Interactive content and hope that our clients will like it. We are excited to expand our TOPsport casino family with CT Interactive.”

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Baltics

BF Games adds top-performing titles to Betsson Group brands

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BF Games adds top-performing titles to Betsson Group brands
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Creative development studio BF Games has launched its top-performing content across several Betsson Group brands.

A selection of the supplier’s titles is now live with the leading operator’s brands, including Betsafe and CasinoEuro, with the partnership stretching over numerous jurisdictions such as Latvia and Estonia.

The available content includes fan-favourites such as Book of Gods, Stunning Hot 20 Deluxe Remastered, Book of Ming, Royal Crown and Book of Gates.

Betsson Group is one of the largest companies in online gaming in Europe and boasts an impressive customer base across its many brands.

BF Games’ slot portfolio offers a diverse mix of classic fruit slots and more innovative content with immersive and engaging features.

The supplier has recently enhanced its footprint across numerous jurisdictions and was earlier this year awarded an ISO 27001 certification which will enable BF Games to enter additional markets such as Switzerland and Hungary.

Claudia Melcaru, Head of Business Development at BF Games, said: “This partnership with Betsson Group is a major step for us as we continue to focus on growing the reach of our content across brands and markets.

“Through this collaboration we will be able to introduce our top-performing games to a new audience and we are certain they will resonate well with Betsson Group’s players.”

Paul Malt, Head of Games at Betsson Group, said: ”BF Games content offers great entertainment with proven mechanics and features that will be a great addition to our existing product offering.”

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