Lara Falzon, CEO of Yolo Group’s B2B brands, is confident the company’s “all-in” mentality will lead to success in the UAE.
“Yolo is entering the UAE market with a complete eco system offering, live studio experiences, slots and aggregation services,” Falcon tells iGB. “Thus, providing a fully connected entertainment platform that can provide quality, safety and innovation to players.
“This all-in approach builds credibility and trust, which effectively gives us a lot of opportunities as well as a head start when compared to our competitors.”
First-mover advantage for Yolo in the UAE
Yolo is aiming to “press the start button” in the UAE as early as this month, with its live studio in Abu Dhabi very close to completion, according to Falzon. “As soon as they’re ready, we’re ready to go,” Falzon declares.
Falzon believes Yolo’s first-mover advantage in the UAE is imperative to success, especially in a market that could prove to be hugely lucrative.
“Speed to market is key,” Falzon adds. “It provides the opportunity to have a local footprint and thus raising barriers to entry for competitors. This could be quite rewarding both in terms of revenue but also valuation.”
In early October, Yolo Group announced it had secured two gaming-related vendor licences in the UAE for its Hub88 Holdings and Live Online Gaming Services subsidiaries.
The licences enable Yolo to supply iGaming content to the UAE’s regulated market. As per the the UAE’s gambling regulations, one online licence will awarded per emirate.
The news of the approved licences followed Yolo’s announcement that it had decided to pivot to fully regulated markets, leaving its grey past behind.
Yolo CEO Tim Heath described the move into the UAE as a “statement of intent” and Falzon, who was appointed CEO of Yolo’s B2B brands in July, says the company’s mentality should prove a successful strategy in the market.
UAE a key market for Yolo’s future
During Falzon’s time at the company she says securing the UAE licences has been one of her proudest achievements so far.
“Beyond the commercial opportunity it represents, it fundamentally changes Yolo’s positioning in the market,” Falzon says. “The licence has elevated our credibility and opened new conversations that weren’t possible before. It’s a strong foundation for the next phase of our growth.”
It’s a big opportunity for Yolo and its B2B segment, especially considering some other more mature regulated markets are already dominated by monopolies or big operators.
The UAE, meanwhile, is described by Falzon as a “forward-thinking, well-regulated market”, which aligns with Yolo’s company values. “Yolo Group believes it has the opportunity to innovate responsibility in a high growth region,” Falzon explains.
“In the UAE, there are a lot of untapped opportunities which makes it very exciting as we don’t know where this will take us, both in terms of product offering but also from a strategical point of view.”
Falzon believes Yolo’s ability to differentiate itself in the UAE market will hinge on two strategic levers – product and technology.
“One of our core initiatives is to treat the UAE as a live lab trying to test & identify what players value most,” Falzon says. “As a content aggregator our key focus is to understand the market & identify different product offerings that appeal to the players in this region.
“The other lever is technology. Yolo can differentiate through a best-in-class tech stack which is trusted by its suppliers and customers. The technology allows for rapid iteration and deployments. Moreover, it provides other tools such as analytics, automated promotional setups as well AI-driven personalisation.”
Localisation as a safety net
One interesting finding so far has been the UAE’s affinity for camel racing. Falzon jokes: “I need to find a studio that offers camel racing first!” But while she feels localisation is important, it goes beyond simply making Yolo “fit in”.
“It acts as a safety net, reducing cultural, regulatory and engagement risk,” she says. “However, I still believe that long term success depends on how quickly Yolo ‘integrates’ into the market.
“An additional factor which is very important in the UAE is the religious and social alignment that is unique when compared to other markets.”
A transparent licensing process in the UAE
The licensing process in the UAE as tough but collaborative, she says.
“Overall, the process has been thorough, transparent and internationally benchmarked, but it’s still evolving. We had several briefing sessions, guidance calls and documents reviews whereby GCGRA offered a level of engagement that was more of a collaboration or ‘partnering’ rather than punitive,” she concludes.
“What is unique is that the UAE’s approach is to encourage innovation and co-operation while still asserting control.”
Yolo Group’s B2B CEO Lara Falzon is eyeing camel racing as inspiration for developments in the UAE, where it recently obtained an iGaming supplier licence.