Stake has expanded its reach into the Italian market after the strategic acquisition of Idealbet from Octavian Group.
The operator has completed the total acquisition of Baldo Line, which had been part of the Octavian Group, and which holds an Italian gaming licence.
Through this deal, Stake acquired the sports betting and remote gaming operator Idealbet.it, based in Italy, and as such will open an office in the region to establish a local presence.
Idealbet will continue to operate under its own brand, but simply under the Stake portfolio.
Brais Pena, Chief Strategy Officer of Easygo (the organisation 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.”
Octavian CEO Simone Pachera added: “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.”
In other news from the region, last month saw Wazdan expand its European presence through a partnership with sports betting and gaming operator SKS365 in Italy.
