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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.

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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.

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“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.”

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CT Interactive Expands its Certified Game Portfolio in Latvia

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CT Interactive has expanded its international footprint in Latvia with 60 newly certified games and a three-level jackpot tailored for the regulated iGaming market. This achievement underscores the company’s commitment to providing high-quality, engaging content.

“The certification in Latvia is an important step in our ongoing European expansion. We’re proud to introduce a diverse portfolio of games to this regulated market and to further strengthen our presence in the Baltic region,” said Martin Ivanov, COO at CT Interactive.

The newly certified portfolio includes 60 games, featuring top-performing titles that are part of CT Interactive’s three-level jackpot system — Hot Luck. Built on the principles of surprise and inclusivity, this jackpot system delivers a dynamic and rewarding experience for players of all types.

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The Hot Luck Jackpot boosts player engagement with its three-level random rewards, making gameplay more exciting and unpredictable. Players can now enjoy popular titles like Win Storm, Wild Clover and Hot 7’s x2 with added thrill thanks to the Hot Luck Jackpot. These games have proven successful across multiple markets and maintain a loyal player base.

The portfolio also features new titles from CT Interactive’s Buy Bonus product line, based on popular games like Duck of Luck, Fruits & Sweets, Doctor Winstein and Nanook the White Ghost. These upgraded versions include one- or three-level Buy Bonus features for even more dynamic gameplay.

The post CT Interactive Expands its Certified Game Portfolio in Latvia appeared first on European Gaming Industry News.

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All Gambling Halls in Riga Threatened with Closure – Industry Raises Alarm

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Following applications by three companies, the Constitutional Court (CC) has initiated a case concerning restrictions on gambling operations in Riga, the court announced.

This is not the first time the issue of gambling regulation in Riga has reached the CC. Just last year, the court ruled in another case that a blanket ban on gambling across the entire administrative territory of Riga was unconstitutional. Afterwards, the city council promised to propose a new mechanism for restricting gambling. That mechanism is now also under review by the court.

The new case was initiated on the basis of applications by SIA Alfor, SIA Klondaika and SIA Olympic Casino Latvia regarding sections 2 and 3 of the Riga City Council’s binding regulations “On Restrictions of Gambling Operations in the Administrative Territory of Riga” adopted on the 26th of March.

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The contested provisions define the places and areas in Riga where gambling is not allowed, as well as the municipality’s actions in cases where permits have already been issued for locations where gambling is now prohibited.

Gambling is prohibited in municipal-owned properties, neighbourhood centres, educational institution premises and within 300 meters of them, as well as in railway stations, bus stations, airports and passenger ports, within 500 meters of such transport hubs and within 300 meters of other public transport stops. Restrictions also apply to certain functional zones, cultural monuments and protected areas defined in Riga’s spatial plan. However, the restrictions do not apply to four- and five-star hotels.

In addition, the contested provisions stipulate the cancellation of previously issued permits if gambling takes place in prohibited areas, and that any issued permit automatically expires five years after the relevant Riga City Council decision comes into force.

The applicant companies, which hold permits to operate gambling halls in Riga, argue that although the contested rules define specific places and areas where gambling is prohibited, in practice they amount to a blanket ban on such business throughout the city.

They argue that the restrictions limit business activity and property rights, and violate the principles of legal certainty and legitimate expectations. Therefore, they claim the rules are inconsistent with Articles 1 and 105 of the Constitution.

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Article 1 states that Latvia is an independent democratic republic. Article 105 provides that everyone has the right to property, that property must not be used against the public interest and that property rights may only be restricted by law.

The Constitutional Court has invited the Riga City Council to submit a written response by the 27th of October, outlining the facts and legal reasoning. The case preparation deadline is the 27th of January, 2026. The court will decide on the type and date of proceedings after preparation.

As previously reported by LETA, the new gambling restriction rules in Riga entered into force on the 1st of April.

A five-year transition period is provided for the cancellation of previously issued permits.

After adopting the rules, municipal officials admitted that all currently known gambling halls are located in areas where gambling will be banned, meaning the new regulations foresee the closure of all existing gambling halls in Riga.

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At the same time, the municipality emphasized that the restrictions do not cover the entire city and do not affect operators’ rights to open or expand gambling facilities in four- and five-star hotels.

The council also claimed that the rules were developed based on Constitutional Court recommendations and the results of public consultations held in February this year.

The Latvian Licensed Gambling Association had already announced in the spring that it would most likely challenge the new restrictions in the Constitutional Court, arguing that they are “neither proportionate nor lawful.”

Source: bnn-news.com

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Lithuanian Basketball League Becomes Betsson-LKL from 2025

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Betsson Group has announced that from the 2025-26 season, Lithuania’s premier basketball league will be officially known as Betsson-LKL.

This marks a new phase in Betsson’s long-standing partnership with the Lithuanian Basketball League (LKL). Since 2017, the Betsafe brand has served as the league’s title sponsor, supporting the continued development of professional basketball in the country. Earlier this year, Betsafe in Lithuania was rebranded to Betsson.

A refreshed visual identity for the league has also been unveiled, marking the beginning of this new chapter.

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“This step allows us to further strengthen our position in the market, offer customers the benefits of our technology platform, and continue upholding high standards of responsible gaming,” said Aurimas Šilys, Head of Betsson Lithuania.

“We are grateful for a partnership that goes beyond branding. Our work with Betsson Group is rooted in a shared vision – to develop a top-tier basketball league in Lithuania that inspires fans and players alike,” said Rasa Liuimienė, General Director of the LKL.

The upcoming Betsson-LKL season will officially commence in autumn 2025.

The post Lithuanian Basketball League Becomes Betsson-LKL from 2025 appeared first on European Gaming Industry News.

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