Baltics
Tim Heath launches new fund within Yolo Investments
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.
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
New Survey Reveals 80% of Lithuanians Would Welcome a Ban on Gambling Ads
Eight out of 10 Lithuanians would approve of a ban on gambling ads in the country, a new survey revealed.
The survey commissioned by public broadcaster LRT was carried out by the public opinion and market research company Baltijos tyrimai. It showed that 80% of respondents aged 18 years and over are in favour of a complete ban on gambling ads in Lithuania and just 15% would oppose the move.
It has transpired that approval of the gambling ad ban was greater among women than men – 86% against 72% respectively. The move has also wide support among residents aged over 50 (84%) and by people with greater than secondary education and with monthly household income of up to EUR 1100 (85%). Opponents of the ban often include men (21%), young people under 30 years of age (23%), rural residents (18%) and people with unfinished secondary education (30%). 1115 adult residents of Lithuania were polled on 15-25 March.
In mid-March, parliament began to consider amendments to the law on gambling, which, if adopted, would prohibit gambling advertisements as of 1 January 2025.
The post New Survey Reveals 80% of Lithuanians Would Welcome a Ban on Gambling Ads appeared first on European Gaming Industry News.
Baltics
Lithuania’s Nese enters iGaming with a record sponsorship deal
Nese, Lithuania’s oldest land-based casino operator, has launched Twinsbet – a new iGaming and sportsbook brand with a focus on sports sponsorships. The company entered into a 3-year long, €7.5 million sponsorship deal with the Wolves basketball club and secured the Avia Solutions Group Arena naming rights.
Twinsbet enters the highly competitive Lithuanian market with naming rights to the largest Vilnius indoor arena, title sponsorship of the Wolves basketball club competing locally and in the Eurocup, and celebrity former basketball players, the Lavrinovic twins, as main ambassadors. This sponsorship deal is worth at least €7.5 million for the next three years and may increase to €10 million if certain conditions are met.
Such a sports and iGaming sponsorship deal is among the largest in Lithuanian history. Nese will seek further collaborations with various sports organizations, focusing on both professional and leisure sports activities.
According to Alvidas Paulikas, Nese’s CEO, the company aims for the leading position locally and seeks to become the first Lithuanian operator to expand internationally.
“Twinsbet is centered around the idea that we believe in sports. For this reason, we are heavily investing in and supporting sports, including the Wolves basketball club and the Twinsbet Arena, as well as other collaborations we are currently investigating and are always open to. We plan to support local teams and non-professional sporting activities in new markets that we will enter soon,” says Paulikas.
Andrius Ziauberis, the CEO of both the Wolves basketball club and the Twinsbet Arena, says that the deal with Twinsbet will strengthen both the organization and the entire Lithuanian sports community.
“We are the only top-tier Lithuanian basketball club operating without any support from municipalities, and so this sponsorship deal will pave the way for sustainable growth. Strong teams can inspire generations both on and beyond the court, and this deal builds a solid foundation for an engaging fan experience,” Ziauberis says.
According to the regulator, the total Lithuanian gaming market amounted to €222 million in 2023, a 13 percent increase from 2022. More than 65 percent of the market is online. The total amount wagered exceeded €2 billion for the first time in 2022.
The post Lithuania’s Nese enters iGaming with a record sponsorship deal appeared first on European Gaming Industry News.
Baltics
Hacksaw Gaming and TOPsport are on TOP of their game with new partnership announcement in Lithuania
Kicking off the month, it’s time to commemorate a brand new partnership with Lithuania’s leading operator – TOPsport! As of the 8th of April, Hacksaw fans will have the opportunity to enjoy the initial selection of our released games, with plans for further expansion in line with market regulations.
TOPsport was founded with humble beginnings back in 2002, they were in fact the first ever betting company to be established in Lithuania. Boasting an impressive collection of 62 betting locations and, of course, their online platform which is home to sports betting and live casino games from various different providers globally. They now welcome Hacksaw classics such as Wanted Dead or a Wild, Chaos Crew and Hand of Anubis to their growing collection.
CEO of TOPsport, Gintaras Staniulis, expressed “TOPsport is excited about the partnership with Hacksaw gaming, which marks a significant step forward in our commitment to providing unparalleled experiences for our customers. We are confident that this collaboration will further enhance our offerings and solidify our position as a leader in the industry.”
TOPsport players can expect exciting narratives, captivating artistic design and an overall gaming experience that will leave them searching for more Hacksaw content. Confident that this will be the case, Hacksaw Gaming CEO Marcus Cordes wanted to say a few words on the new partnership – “A top operator in the Lithuanian market teaming up with a leading provider of innovative games—what a match! We’re thrilled about this collaboration and are optimistic that TOPsport players will soon become familiar with the Hacksaw name.”
Only time will tell, but we’re pretty sure that TOPsport Casino users will find Hacksaw games at the ‘top’ of their new favourite lists.
The post Hacksaw Gaming and TOPsport are on TOP of their game with new partnership announcement in Lithuania appeared first on European Gaming Industry News.
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