Stake acquires Italy-based sports betting company
Gambling brand Stake continues to enter into new markets, as it expands its horizons into Italy through an acquisition of Idealbet from the Octavian Group.
The Italian sports betting and remote gaming operator was previously owned by Baldo Line, but will now be under the Stake portfolio following the successful handoff.
The brand will continue under its name and its Italian gaming license which will give Stake access to a whole new country.
This expansion is another for the Australian-Curaçaoan gambling company following its acquisition of Betfair Colombia in November which allowed it entry into Latin America.
The Italian entryway will see Stake establish “a local presence in Italy by opening an office in Italy to expand on its team of employees.” Currently, the old parent company of Idealbet, Baldo Line, operates in the province of Veneto.
The financial details of the acquisition haven’t been made publicly available.
Both sides ‘thrilled’ as Stake makes it into Italy
In the announcement, the chief strategy officer at Easygo, Brais Pena, which is the technology operator behind Stake said: “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.”
The Octavian Group are happy with the change too, with the CEO Simone Pachera commenting: “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.
“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.”
Image Credit: Via Ideogram
The post Stake acquires Italy-based sports betting company appeared first on ReadWrite.