Stake has strategically expanded into the Italian market by acquiring 100% of Baldo Line s.r.l., a company previously part of the Octavian Group that holds an Italian gaming license. This acquisition includes the Italy-based sports betting and remote gaming operator Idealbet.it. This move aims to enhance Stake’s global expansion and strengthen its market position, reinforcing its commitment to delivering top-tier entertainment to players.
This acquisition follows Stake’s November 2023 acquisition of Betfair Colombia, marking its entry into Latin America and demonstrating Stake’s continuous growth into new markets.
With the acquisition of Idealbet, Stake will introduce a portfolio of innovative gaming options to Italian players. Idealbet’s established presence in Italy, a mature and substantial market, provides Stake with a robust foundation for regional growth.
Post-acquisition, Stake will establish a local office in Italy to expand its team and ensure a strong local presence. Idealbet will continue to operate under its brand within the Stake portfolio.
Commenting on the significance of the acquisition, Brais Pena, Chief Strategy Officer at Easygo, the technology powerhouse 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.”
Commenting on the acquisition, Simone Pachera, Chief Executive Officer at Octavian said: “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.”
