Australian-owned crypto gambling powerhouse Stake.com has continued its push into regulated national markets with the acquisition of the parent company of Italian sportsbook Idealbet.it.
Stake’s parent company Easygo, founded in Melbourne by Ed Craven and Bijan Tehrani, has become a global leader in the online gambling space, with the Stake.com brand while it also owns streaming platform Kick as well as gaming studio Twist.
Registered in the Caribbean island of Curacao, Stake.com is considered an unregulated operator in Australia, meaning it can not offer services to Australian customers, as well as to other markets which have specific laws around unregulated operators.
It does hold licences under regulated brands in Mexico, the United Kingdom, Colombia and Paraguay.
Easygo has also grown its presence in the Australian regulated market by increasing its interest in local bookmaker PointsBet to over 5 per cent, while Craven and Tehrani have been previously reported as having plans of establishing their own regulated bookmaking brand in Australia.
There has now been confirmation that Stake.com has acquired Baldo Line SRL, the operating company of Italian sportsbook Idealbet.it.
Baldo Line, licensed in Italy by the ADM, has operated the Idealbet.it sportsbook brand since 2012. Stake will now establish a local presence in Italy.
The intention is for Idealbet to continue to operate under its own brand within the Stake.com portfolio.
“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," Brais Pena, Chief Strategy Officer of Easygo, said.
“We’re thrilled to work with Idealbet to provide the best experience for our customers.”
Bren O’Brien
Simone Pachera, chief executive officer at Octavian Group, which owns Blado Line, said the stake opportunity was a significant one for Idealbet.
“We are thrilled to transition operations to Stake.com, a globally renowned brand with a proven track record of delivering exceptional player experience,” he said.
“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.”
Italy is undertaking its first major review of online gambling laws, protections and licensing.
