Stake is set for strategic expansion into the Italian market through its recent acquisition of 100% of Baldo Line srl, an Italian licence-holding company, previously part of the Octavian Group.
Through this deal, Stake has acquired Italy-based sports betting and remote gaming operator Idealbet.it, aiming to bolster global expansion efforts and strengthen its market position, furthering its commitment to delivering top-tier entertainment to players.
This pivotal acquisition marks Stake’s continued growth into new markets, following its acquisition of Betfair Colombia last November, announcing its entry into Latin America.
Stake will introduce a portfolio of innovative gaming options to players in Italy, with Idealbet’s established presence and Italy’s mature, substantial market providing Stake a robust foundation for growth in the region. Stake will also establish a local presence by opening an office in Italy, with Idealbet continuing to operate under its own brand within the Stake portfolio.
Brais Pena, Chief Strategy Officer at Easygo Gaming, the Australian technology powerhouse behind Stake, says: “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.”
Simone Pachera, CEO at Octavian, adds: “We are 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.”
