Stake’s expansion into new regulated markets continues following its acquisition of Betfair Colombia in November which provided access into Latin America.
Idealbet will provide the firm with an established presence in Italy’s mature market, where it will continue to operate under its own brand with an additional portfolio of Stake’s games.
Stake will establish a local presence in the country by setting up an Italian office and expanding its own team into the market.
Stake eyes additional global expansion
Brais Pena, chief strategy officer at Easygo, the company behind Stake, said the Idealbet deal is the latest phase of its ongoing global expansion plans.
“This acquisition aligns with our strategic ambitions to increase our global footprint, particularly in an established region like Italy,” Pena said. “It marks a significant milestone for Stake. We’re thrilled to work with Idealbet to provide the best experience for customers.”
Simone Pachera, CEO of Octavian, also welcomed the acquisition. Pachera said it ushers in a new experience for customers in the expanding Italy market.
“Since acquiring Baldo Line, we have built a strong foundation for Idealbet through our AGP gaming platform and HubCasino aggregator,” Pachera said. “Now, we are thrilled to transition operations to Stake, a globally renowned brand with a proven track record of delivering exceptional player experience.
“We are confident that Stake will significantly enhance the growth of Idealbet. It brings renewed energy to our players, as well as the entire Italian online gaming market.”
Financial details of the acquisition were not disclosed.
Original article: https://igamingbusiness.com/strategy/ma/stake-enter-italy-with-idealbet-acquisition/
