Stake is a leading brand in the gambling and gaming category, having made strategic acquisitions signifying its expansion into the Italian market. The company has acquired 100% of the shares of Baldo Line s.r.l., previously part of the Octavian Group and holder of an Italian gambling license. The acquisition includes the Italy-based sports betting and remote gaming operator Idealbet.it.
This acquisition is a significant step in Stake's global expansion efforts and strengthens its market position. It also highlights the company’s commitment to providing top-tier entertainment for its players. This acquisition follows Stake's entry into Latin America in November 2023 through the acquisition of Betfair Colombia.
With this acquisition, Stake will introduce a range of innovative gaming options to players in Italy. The established influence of Idealbet, combined with Italy’s mature and substantial market, lays a solid foundation for Stake’s growth in the region.
Following the acquisition, Stake will expand its staff team by establishing offices in Italy, thus building a local presence. Idealbet will continue to operate under its own brand within the Stake investment portfolio.
Global Expansion and Local Operations
Brais Pena, Chief Strategy Officer at Easygo, the tech giant behind Stake, commented on the acquisition, stating it aligns with their strategic ambition to increase their global footprint, particularly in mature areas like Italy. Simone Pachera, CEO of Octavian, expressed excitement about partnering with Stake, bringing new experiences to their clients, and further expanding into the Italian market.
Stake is committed to player safety, offering comprehensive tools and resources designed to help customers understand and manage their gambling activities, maintaining fun, safety, and entertainment in gambling.
The exact financial details of the acquisition, including the purchase price and the value of the acquired assets, have not been disclosed yet.
