Stake is set for strategic expansion in the Italian market with the recent acquisition of 100% of Baldo Line S.R.L., a company previously part of the Octavian Group, holding an online gaming license in Italy.
With this deal, Stake has acquired the sports betting and online gaming operator Idealbet.it, aiming to enhance its global expansion efforts and consolidate its market position while continuing to offer top-tier entertainment to players.
This strategic acquisition marks a crucial step in Stake's ongoing growth into new markets, following its acquisition of Betfair Colombia in November 2023, which marked the company's entry into Latin America.
With this acquisition, Stake will introduce a broad range of innovative games to Italian players. The combination of Idealbet's established presence in a mature and significant market like Italy provides Stake with a solid foundation for growth in the country.
Following the acquisition, Stake will establish a local presence by opening an office in Italy to expand its team. Idealbet will continue to operate under its own brand within the Stake portfolio.
Commenting on the significance of the acquisition, Brais Pena, Chief Strategy Officer of Easygo, the technological powerhouse behind Stake, said: “This acquisition aligns with our strategic ambitions to expand our global footprint, particularly in a well-established market like Italy, and represents a significant milestone for Stake. We are excited to work with Idealbet to provide the best experience for our customers.” Simone Pachera, Chief Executive Officer of Octavian, added: “We are thrilled to work with Stake and guide our customers into a new adventure. Since acquiring Baldo Line, we have built a solid foundation for Idealbet through our AGP gaming platform and HubCasino aggregator. Now, we are pleased to transfer operations to Stake, a globally renowned brand with a proven track record of delivering exceptional gaming experiences. We are confident that Stake will significantly enhance Idealbet’s growth and bring new energy to our players, as well as the entire Italian online gaming market.”
Since 2017, Stake has introduced cutting-edge technologies and innovative gaming options. The company is continually committed to player safety, keeping the game fun, safe, and engaging, and providing comprehensive tools and resources to help customers understand and manage their gaming activities.
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