The new JV with Fanatics will take over Momentum’s lottery, betting and gaming operations
Momentum Group, operator of the UAE Lottery and the country’s sole licensed sports betting operator, has formed a joint venture with Fanatics.
The joint venture will take over all of Momentum’s existing UAE commercial gaming licenses and operations, which will benefit from Fanatics’ product knowledge, technology, and speed-to-scale capability.
The General Commercial Gaming Regulatory Authority (GCGRA) has approved the change in control of Momentum’s existing licensed entities.
“The UAE has built one of the world’s most carefully regulated commercial gaming markets, and this joint venture is a reflection of the confidence that brings,” said Momentum chief operating officer Scott Burton.
“Combining Momentum’s regional experience with Fanatics’ global product capability creates a partnership well placed to grow alongside this market for the long term.”
The joint venture comprises all of Momentum’s lottery, iGaming and sports betting operations in the United Arab Emirates.
Conor Grant, president of Fanatics Gaming, commented: “The UAE is establishing one of the most thoughtfully regulated commercial gaming markets in the world, and Momentum has demonstrated what a responsible, credible operation within it looks like. We are entering this market for the long term, committed to building something genuinely category-defining together.”