Baltics

Tim Heath launches new fund within Yolo Investments

Published

4 years ago

February 15, 2021

Reading Time: 2 minutes

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.

European Gaming Congress 2024 (Warsaw, Poland)

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

Evoplay expands Baltic presence with new Optibet collaboration

Published

4 days ago

December 19, 2024

George Miller

evoplay-expands-baltic-presence-with-new-optibet-collaboration

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Evoplay, the award-winning game development studio, has announced its latest partnership with leading Baltic operator Optibet, part of Entain, marking a strategic expansion in Lithuania and Estonia.

Through the agreement, Optibet now offers over 70 of Evoplay’s premium slot titles to its customers in both markets, including popular games such as The Greatest Catch Bonus Buy, Elven Princesses, and Fruit Super Nova.

Optibet, part of global gaming giant Entain, is a trusted operator across the Baltics, providing Evoplay with a solid foundation to grow its presence in the region.

This exclusive partnership underscores both companies’ commitment to delivering top-tier gaming experiences and increasing engagement within these key markets.

Ihor Zarechnyi, CBDO at Evoplay, said: “We’re thrilled to partner with Optibet, a trusted name across the Baltics, to bring our games to players in Lithuania and Estonia.”

“This collaboration marks an important step in our commitment to expanding in regulated markets and offering tailored experiences that resonate with local audiences.”

Janis Bariss, Entain Head of Gaming Baltics & Nordics, said: “Optibet is dedicated to providing our players with the best in gaming entertainment and partnering with Evoplay allows us to deliver an exciting range of content that adds real value to our portfolio.”

“Evoplay’s innovative approach and diverse game selection will be a fantastic addition to our online casinos in Lithuania and Estonia, and we’re looking forward to seeing the impact it has on our audience.”

The post Evoplay expands Baltic presence with new Optibet collaboration appeared first on European Gaming Industry News.

Baltics

Lithuania to Ban Gambling Ads

Published

1 month ago

November 14, 2024

Niji Narayan

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The Lithuanian parliament on Tuesday approved restrictions on gambling advertising, set to take effect from next July.

The amendments to the Gaming Law, passed with 73 votes in favour and one abstention, will introduce a ban on gambling advertising starting in July 2025. Exceptions will apply to sports competitions and events, as well as sports sponsorships and broadcasts of sports competitions, which will have a transitional period until January 1, 2028.

Next year’s budget for the Media Support Fund earmarks an additional 4 million euros to compensate media organisations for lost advertising revenue.

Among other things, MPs backed a proposal from the parliamentary Committee on Budget and Finance to have a transitional period until the end of 2027, allowing up to three betting ad spots of under 15 seconds each per hour on television, radio and online between 06:00 and 18:00 and up to two per hour between 18:00 and midnight.

For online media, betting ads without a direct link to the gaming operator’s website will be limited to 20% of advertising space from 06:00 to 18:00 and 10% until midnight.

The post Lithuania to Ban Gambling Ads appeared first on European Gaming Industry News.

Baltics

Genome launches SEPA instant payments, adding another valuable feature for iGaming companies

Published

2 months ago

October 29, 2024

George Miller

genome-launches-sepa-instant-payments,-adding-another-valuable-feature-for-igaming-companies

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Genome (UAB Maneuver LT) has introduced SEPA Instant Transfers for all its clients. Companies can now make instant euro payments within seconds to optimize cash flow and improve operational efficiency across the Eurozone.
Additionally, SEPA Instant Transfers can be used for batch Transfers, making mass payments even more effective for companies, particularly the iGaming businesses.

“SEPA Instant Transfers enable quick payments in the Eurozone, improving cash flow and scheduling flexibility for business partners – a very crucial feature for modern-day companies that conduct operations online,” explained Genome’s CEO, Daumantas Barauskas.

SEPA Instant Transfers will be priced the same as regular SEPA Credit Transfers, ensuring users enjoy the convenience of instant transactions without any additional costs.

The feature has gone live shortly before the SiGMA Europe conference that Genome’s team will be attending. Businesses can learn more about SEPA Instant Transfers and other iGaming services Genome provides at booth #3102 or by booking a meeting.

“SEPA Instant Transfers is not the only service Genome offers iGaming companies. For one, they can streamline their financial operations with our API for mass payouts and B2C2B payments. We are currently developing the incoming payment notifications service via API (API for pay-ins). This feature will notify iGaming companies about client pay-ins in real-time. We also provide contactless physical and virtual Visa Business cards for media buying and other corporate expenses, with the added convenience of Google Pay, Apple Pay, and Garmin Pay compatibility. Additionally, a dedicated IBAN account simplifies B2B transactions, and the Genome iOS and Android apps ensure real-time financial management anytime, anywhere,” concluded Daumantas Barauskas.

The post Genome launches SEPA instant payments, adding another valuable feature for iGaming companies appeared first on European Gaming Industry News.