Possible buyer emerges for Yolo Group’s Sportsbet.io and Bitcasino.io
Negotiations over a sale of the crypto gambling brands have reportedly reached the final stages.
Estonia.- Crypto-gambling magnate Tim Heath is reportedly “in the late stages” of offloading Yolo Group’s flagship brands, Sportsbet.io and Bitcasino.io. According to The Australian, Heath aims to seal his departure from the crypto-gambling sector as he steers Yolo Group toward jurisdictions with regulated online betting frameworks.
Launched in 2015 under Heath’s former Coingaming venture, later rebranded as Yolo Entertainment, Sportsbet.io and Bitcasino.io were pioneers in Bitcoin-based gambling. Headquartered in Estonia, the brands employed hundreds across Tallinn and other international offices and reportedly achieved annual EBITDA of €100m at their peak.
However, in 2025, Heath ordered the closure of the brands as a strategic withdrawal from unregulated markets. Yolo cut nearly 300 positions in Estonia. The group said at the time that the move was intended to support a focus on acquiring new licences ahead of the United Arab Emirates’ (UAE) igaming legislation.
Yolo has since secured vendor licences in the UAE for its B2B content, enabling it to supply regulated operators. Heath has positioned this transition as a long-term strategy focused on compliance and sustainable growth.
Yolo Group today comprises Yolo Entertainment, which oversaw the gambling platforms, and Yolo Investments, its venture capital arm. Although Heath continues to own the Bombay Club Casino in Tallinn, he has relocated his residence to Dubai. The Australian reported that Heath has rehired some staff in Estonia to keep operations running during sale negotiations, aiming to preserve value before a deal is finalised.
Stockholm-listed Betsson AB has emerged as the leading candidate to acquire the brands, with talks reportedly centering on a valuation of below €50m. Betsson has declined to comment.
