Prominent crypto-focused gaming and technology operator Yolo Group has confirmed it will lay off 280 employees in Estonia as part of a sweeping restructuring plan to consolidate its operations, as the company shifts its focus exclusively to regulated markets. Founder Tim Heath was adamant that such a move would create new opportunities and help Yolo remain at the forefront of innovation.
The Company Will Assist Affected Employees
The layoffs affect Yolo’s Estonian division. According to the group, the decision comes after months of internal discussions, aligning with the company’s ongoing efforts to consolidate its businesses and shutter its grey market operations. Tim Heath previously noted that such restructuring was necessary for the long-term health of the business.
The regulated landscape is the future of gaming, and we’re ready to lead with the same fearless innovation that got us here.
Tim Heath, Yolo Group founder
After the redundancies, more than 600 employees will remain across Yolo’s businesses in Estonia. A two-week consultation period with affected staff has already commenced, as the company works with partners and suppliers to secure job opportunities for those impacted by the cuts. Yolo staff have also banded together and reached out across LinkedIn to find other potential employees.
Despite the redundancies, Yolo remains committed to operating its Estonian-licensed online gambling services, as well as Yolowallet, its e-wallet platform. The restructuring does not affect the group-owned Bombay Club in Tallinn’s Old Town and The Burman Hotel. However, these divisions will likely experience some operational changes as Yolo prepares to embark on the next stage of its journey.
Yolo Presses On with Its Restructuring Efforts
In a recent press release, Heath noted that the company’s tighter focus on regulated markets was more than just a compliance exercise, describing it as a reinvention of the gambling experience. Yolo’s long-term vision combines land-based and online gaming operations into a single wallet, using crypto technology to provide a seamless user experience.
According to the company’s updated business strategy, it will consolidate its gambling and technology operations under a single flagship brand, Yolo.com, which is licensed in Estonia. Heath also noted that the company was in the final stages of securing a B2B vendor license from the GCGRA in the UAE, which could significantly bolster the group’s position.
A UAE license would place Yolo among the first crypto-native operators to develop a presence in the Emirates, a jurisdiction positioning itself as a hub for regulated online gaming. Such an approval could help the company extend its reach across other high-profile jurisdictions. While unfortunate, the layoffs are likely necessary for Yolo to enter a new chapter built on compliance, innovation, and trust.