The creation of cation vacancies in the scheelite-type framework leads to the formation of Na2/7Gd4/7MoO4 compound, where cationic sites are shared by Na+, Gd3+, and vacancies. The spectroscopic properties at ∼1 µm of this novel disordered Yb3+-doped crystal, grown by the Czochralski method, have been investigated. The absorption and fluorescence spectra at 10 and 300 K provide the important information on the absorption and emission cross-sections as well as the Stark energy-level positions of Yb3+ ions in the crystal. The wavelength dependence of the gain cross-section has been determined, which predicts a broad tuning range and potential sub-100-fs laser pulse generation. The laser parameters βmin, Isat, and Imin have been calculated, and the perspectives for applications as a laser-active material have been discussed.