SBC News Voice of the Sports Betting Industry
Stake (Stake.com) has marked out its intent to become a leading player in Italy’s reorganised online gambling market in 2025.
The statement follows Stake’s completion of its acquisition of Baldo Line SRL, the operating company of the heritage Italian sportsbook brand Idealbet.it.
The deal sees Stake acquire Baldo Line’s online gambling licence from its previous owner, Octavian Group. From 2025, ADM, Italy’s Customs and Monopolies Agency, will apply a €7m fee for online gambling concessions lasting an operating period of nine years.
As confirmed to AGIPRONews, Stake has pledged to pay ADM its €7m licensing and concessions fee, as it has chosen to operate Idealbet as its principal brand in Italy.
Moving forward, Idealbet’s sportsbook and casino offerings will be elevated by Stake’s proprietary platform and a new portfolio of exclusive Stake game titles.
The high ambitions of Stake in the Italian market were detailed by Brais Pena, Chief Strategy Officer of Easygo: “We’re excited about our plans for the Italian market. We’ve recently acquired Italy-based sports betting and remote gaming operator Baldo Line SRL, part of the Octavian Group, including Idealbet.it.”
The acquisition is part of Stake’s strategic global expansion efforts into regulated markets. Additionally, it is establishing a local presence by opening an office in Rome and expanding its team of employees there.
Despite a delay due to a challenge by the Malta Gambling Authority (MGA), the launch of Italy’s new online gambling regime has been guaranteed following its competition clearance by the European Commission.
Completing its standstill period, from today (18 November), the Italian government has been allowed to launch a new licensing regime for online gambling businesses. The Ministry of the Economy and Finance (MEF) has permitted existing licences to be extended for an additional year until 31 December, in line with Italy’s Budget 2024 rules.
In Italy, an advertising ban is still in force as a mandatory decree. Stake was questioned on the strategy of a new operator, such as Stake, to gain market share in such a highly competitive market.
Brais Pena commented: “Our priority is to ensure that we operate within Italy’s regulatory framework and provide the best possible experience for players. By combining Idealbet’s established presence and expanding our team in Rome with Stake’s exceptional player experience, we offer a product that will attract and retain players, even in a very competitive market.”
