Momentum Group has announced a new joint venture with Fanatics Betting & Gaming in the UAE sports betting market, following regulatory approval from the General Commercial Gaming Regulatory Authority (GCGRA).
Crucially, Momentum currently operates as the sole GCGRA-licensed sports wagering and iGaming platform, as well as the operator of the UAE National Lottery. Indeed, the group’s strong market position within this context will now combine with Fanatics’ long-standing US market expertise as the pair combine for this latest joint venture, the details of which currently remain unspecified.
This latest update represents Fanatics’ first formal venture outside of its home market in the US. For Momentum, this past month has seen multiple significant updates as its Play971 platform – which became the first GCGRA-licensed iGaming platform in the UAE last November – also launched sports betting products earlier this month.
Announcing this latest update via LinkedIn, Momentum Group stated: “This joint venture will operate and grow the commercial gaming activities licensed to Momentum in the UAE, spanning the UAE Lottery and Play971 - our iGaming and sportsbook platform - all approved by the GCGRA.
“Together, we aim to elevate the customer experience, while advancing industry standards for responsible gaming and player protection and contributing to the UAE's broader commercial gaming industry.”
Coming as part of a flurry of UAE-related action, this newest announcement follows the appointment of new GCGRA CEO Ciarán Carruthers – as well as Australian fast bowler Brett Lee joining Play971 as the platform’s first formal brand ambassador in recent weeks. Elsewhere, in early June the UAE removed gambling and betting provisions from its new Civil Transactions Law, as the GCGRA continued to expand its regulatory framework.
For Fanatics, this development comes just days after the announcement of its partnership with IC360, which will see the pair develop a ‘groundbreaking’ Bad Actor Program, allowing sportsbook operators to restrict wagering by those who threaten athletes and coaches.
Based in Abu Dhabi, Momentum formally established its subsidiary The Game LLC brand in late 2024 after winning the national lottery contract in July of the same year
