Online crypto casino and sportsbook Stake has acquired Italy-based sports betting and remote gaming operator Baldo Line s.r.l, which operates the Idealbet.it brand. Baldo Line was previously part of the Octavian Group, which includes various companies focused on developing and distributing gaming products and services.
The company said this strategic acquisition marks its continued growth into new markets following its foray into Latin America with the acquisition of Betfair Colombia in November last year.
The combination of Idealbet’s established presence and Italy’s mature, substantial market provides Stake with a robust foundation for growth in the region, the company said in a statement.
Following the acquisition, Stake will establish a local presence in Italy by opening an office to expand its team of employees. Idealbet will continue to operate under its own brand within the Stake portfolio.
“This acquisition aligns with our strategic ambitions to increase our global footprint, particularly in an established region like Italy, and marks a significant milestone for Stake. We’re thrilled to work with Idealbet to provide the best experience for our customers,” Brais Pena, Chief Strategy Officer at Easygo, the technology wing behind Stake, said.
“We’re excited to collaborate with Stake and usher in a new experience for our customers, further expanding the market in Italy. Since acquiring Baldo Line, we have built a strong foundation for Idealbet through our AGP gaming platform and HubCasino aggregator,” Simone Pachera, Chief Executive Officer at Octavian, 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 and bring renewed energy to our players, as well as the entire Italian online gaming market,” Pachera added.
Founded in 2017, Stake has covered more than 30 billion bets per year, with over four percent of total global Bitcoin transactions carried out via its casino and sportsbook.
Original article: https://www.yogonet.com/international/noticias/2024/08/01/73836-stake-expands-into-italian-market-with-acquisition-of-idealbet
