The operator of the UAE Lottery, Momentum Group, has added another layer to its operations in the Middle Eastern country’s burgeoning gaming space.
Momentum has penned a partnership with Fanatics, an American sports entertainment and merchandising platform which has been expanding in the betting and gaming sector for several years.
The duo are embarking on a joint venture combining Momentum’s regional experience and standing with the UAE”s General Commercial Gaming Regulatory Authority (GCGRA) with Fanatics’ background in sports betting and engagement and its technological capabilities.
Scott Burton, Chief Operating Officer of Momentum Group, said: “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 it brings.
“Combining Momentum’s regional experience with Fanatics’ global product capability creates a partnership well placed to grow alongside this market for the long term.”
Gaining Momentum in UAE gaming
The UAE has been eyeing up betting, gaming and lotteries as a key growth segment for some time, with the nation looking to diversify its already extensive tourism economy – the sector already accounting for more than one-tenth of its annual GDP.
The country launched a lottery in December 2024, with Momentum having won the tender to operate the lottery in July that year. The lottery is operated by its subsidiary, The Game.
Since then, the UAE has been issuing licences for betting and gaming, with Momentum setting up Play371 as the country’s first licensed sports betting provider.
Like its lottery operations, Play371 is also operated by a subsidiary, Coin Technology Projects.
The Fanatics JV will enable Momentum to not only expand its reach in sports betting, but it may also lay the groundwork for expansion into predictions, with Fanatics being the first US sportsbook to have launched a predictions platform in the US.
It is also enabling ADI Predictstreet, a UAE-owned business and official predictions partner of the FIFA World Cup, to operate in the US via a partnership between the two.
Conor Grant, President of Fanatics Gaming, said: “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.”