The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
(69 - 75) Professional Services 70 - Activities of head offices and management consultancy 70.1 - Activities of head offices 70.1 - Activities of head offices
280 jobs Number of planned job losses
Announcement Date
23 September 2025
Employment effect (start)
23 September 2025
Foreseen end date
Description
Yolo Group
Yolo Group an Estonian company operating in the gaming, fintech and blockchain sectors is carrying out strategic restructuring which will result in the layoff of 280 employees in Estonia. Yolo Group announced that it will continue to operate only in fully regulated and licensed markets and will exit its current operations in unregulated markets.
After the restructuring, more than 600 people will continue to work in the group's Estonian companies. The exact number of employees is hard to find as the Group is managing multiple sub-companies which operate in various fields. Yolo Group operates in the online casino and sports betting ecosystem. Its activities include the elite casino Bombay, the sports betting crypto portal Sportsbet.io, the crypto casino Bitcasino, the gambling company Partners.io, the investment platform Yolo Investment, and others.
The company's headquarters is located in Tallinn, but it also has offices in Malta, the United Kingdom, Spain, Australia, the Isle of Man, and Guernsey. Among other owners and beneficiaries of Yolo and Heathmont, the main owner is the Australian businessman Tim Heath.
This layoff is the largest in Estonia this year and also in comparison to recent years, for example, last year, the casino company Studioworks had the highest number of layoffs, cutting 168 jobs. In 2023, the recruitment agency Euro Work cut 183 jobs which was the biggest redundancy that year.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
