Idealbet acquisition marks Stake’s expansion into Italian market

Lea Hogg August 2, 2024

Stake, a leading brand in the betting and gaming category, has made a strategic acquisition that marks its expansion into the Italian market. The company has acquired 100 percent of Baldo Line s.r.l., a company previously part of the Octavian Group that holds an Italian gaming licence. This acquisition includes 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 underscores the company’s commitment to delivering top-tier entertainment to players. The acquisition follows Stake’s entry into Latin America through the acquisition of Betfair Colombia in November 2023. Through this acquisition, Stake will introduce a portfolio of innovative gaming options to players in Italy. The combination of Idealbet’s established presence and Italy’s mature, substantial market provides Stake with a robust foundation for growth in the region. Following the acquisition, Stake will establish a local presence by opening an office in Italy to expand its team of employees. Idealbet will continue to operate under its own brand within the Stake portfolio.

Global expansion and local presence

Brais Pena, Chief Strategy Officer at Easygo, the technology powerhouse behind Stake, commented on the acquisition, stating that it aligns with their strategic ambitions to increase their global footprint, particularly in an established region like Italy. Simone Pachera, Chief Executive Officer at Octavian, expressed excitement about collaborating with Stake and ushering in a new experience for their customers, further expanding the market in Italy. Stake is committed to player safety, keeping gambling fun, safe, and entertaining by providing comprehensive tools and resources aimed at helping customers understand and manage their gambling activities. The exact financial details of the acquisition, including the purchase price and the value of the acquired assets have not been disclosed.