The Arabic word at the beginning of the sentence, يلا, isn't a proper Arabic word and cannot be found in any proper dictionary. It is derived from the expression يا الله and it is used in local dialects as a connection to indicate that you are about to conclude a situation and move to some other subject or situation.
You are right. It's not in my dictionaries either. But well, it's so commonly used, that it doesn't hurt to know about it :-) However, I am more worried about the translation ... I doubt that the English word "alright" is the best possible option. It really depends on the situation.