Stake Expands in Brazil with New License and Country Manager

Stake, the global betting operator and sportsbook, has announced the approval of its Casino and Sportsbook license in Brazil, marking a significant milestone in its expansion into regulated markets.

This development comes on the heels of Stake’s successful entry into other regulated markets such as Colombia and Peru, and its recent acquisition of IdealBet in Italy. With these strategic moves, Stake is strengthening its global presence and expanding its reach to a growing number of players in emerging markets.

Brazil has become one of Stake’s key markets, now ranking as the company’s second-largest globally. To reinforce its commitment to the Brazilian market, Stake has established its operational hub in São Paulo. The operator plans to leverage its cutting-edge technology and entertainment offerings to provide a world-class gaming experience tailored to Brazilian players.

In conjunction with the license approval, Stake has appointed Thomas Carvalhaes as the Country Manager for Brazil. Carvalhaes will lead a team of 10 local employees, supported by Stake’s global workforce of over 1,000 professionals. The new team will focus on delivering a localized experience that aligns with local player preferences, all while complying with Brazil’s regulatory framework.

“For Stake the licence means a further step in its global expansion into regulated markets. In this case, the relevance of the market and the speed in which we have achieved it is a good example of how we work. Stake Brazil users can expect a similar experience to Stake.com; the best customer service, good product, good games and in general what we have always been known for which is to put the customer at the centre of all operations, marketing, and product decisions,”said Brais Pena, Chief Strategy Officer at Stake.

“We are very excited about the regulated environment and everything that is happening in the Brazilian market, its growth and the way it is establishing itself. I am taking the lead of a brand that has the ability to innovate and find the right opportunities to speak with the right audience, that is something really powerful and definitely a winning combination,” expresses Thomas Carvalhaes, Brazil Country Manager.

“Looking ahead to next year, we will continue to expand our local team and operations. Stake is already a prominent name in Brazil, with partnerships like Juventude Football club, the UFC, and the Fittipaldi brothers Pietro and Enzo, and we’re optimistic about replicating our successful formula across Latin America.”