Following the strategic acquisition of Idealbet from Octavian Group, Stake has expanded its operations into the Italian market.
The operator has completed the full acquisition of Baldo Line, which was part of the Octavian Group and held the Italian gaming license.
Through the deal, Stake acquires Italy-based sports betting and remote gaming operator Idealbet.it and will open an office in the region to build a local presence.
Idealbet will continue to operate under its own brand but will be brought under the Stake umbrella.
Brais Pena, chief strategy officer at Easygo (the organization behind Stake), said: “This acquisition is in line with our strategic ambition to expand our global reach, especially in a mature region like Italy, and marks an important milestone for Stake. We are very Happy to partner with Idealbet to provide the best experience for our customers.”
Simone Pachera, CEO of Octavian, added: “We are delighted to partner with Stake to bring new experiences to our customers and further expand into the Italian market. Since acquiring Baldo Line, we have laid the foundation for Idealbet with our AGP gaming platform and HubCasino aggregator a solid foundation.
We are now pleased to hand over the business to Stake, a globally recognized brand with a proven track record of delivering a superior player experience. We believe that Stake will significantly enhance Idealbet’s growth and bring new vitality to our players and the Italian online gaming market as a whole. "
In other news from the region, last month Wazdan expanded its presence in Europe through a partnership with Italian sports betting and gaming operator SKS365.
