Stake.com Acquires Italian Sportsbook Idealbet.it

Establishing Local Operations

Stake.com has confirmed its acquisition of Baldo Line SRL, the operating company behind the Italian sportsbook Idealbet.it. This move allows Stake.com to expand its European profile by acquiring Baldo Line’s Italian ADM license. Baldo Line, a property of the Octavian Group, has operated the Idealbet.it brand since 2012 under the regulations of Italy’s Customs and Monopolies Agency (ADM).

With the acquisition, Stake.com plans to establish a local presence in Italy by opening an office in the province of Veneto, where Baldo Line currently operates. The company will expand its team of employees to support this new venture.

For now, Idealbet will continue to operate under its own brand within the Stake.com portfolio. However, it remains undisclosed whether Stake.com will introduce its flagship brand in the Italian market.

Italy’s Gambling Market Faces Regulatory Overhaul

Italy is considered a dynamic growth market for online gambling, offering significant diversification opportunities. Brais Pena, Chief Strategy Officer of Easygo, the technology operator for Stake.com, highlighted the strategic importance of this acquisition.

“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”, he stated.

Stake.com enters the Italian market at a crucial time as the government is proceeding with the Decree to Reorganize Gambling. This mandate aims to overhaul Italy’s online and land-based gambling laws.

The Ministry of the Economy and Finance (MEF) is finalizing procedures to launch a new licensing regime, pricing online gambling concessions at €7 million for a nine-year operating period. A significant aspect of the new regime is the strict limit of “one brand per concession,” prohibiting the use of skin websites targeting Italian consumers.

Transitioning Operations

Simone Pachera, Chief Executive Officer at Octavian, expressed excitement about the collaboration: “We’re excited to collaborate with Stake.com 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.com, 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”, he added.