Stake, one of the top online gaming platforms in the industry, has acquired Baido Line SRL of Idealbet.it, thus obtaining full control over the online gambling license of Baldo Line that was previously managed by the Octavian Group.
As a result of this acquisition, Stake intends to turn Idealbet into its number-one brand in Italy by integrating its cutting-edge technology platform, a plethora of new games, and content that is exclusive to Stake alone.
Moreover, Stake also plans to open up an office in Rome, the capital of Italy, with the purpose of further strengthening its presence and position in Italy, as well as adapting to customer-centric operations and the region.
By opening a shop in Rome, Stake aims to deliver an improved player experience and be fully compliant with local gambling laws and rules, a blueprint followed by a lot of operators who break ground in a new market.
Brais Pena, the Chief Strategy Officer at Easygo, commented on this business venture and revealed that the company’s main objective is to “create a product that appeals to new players,” all while “retaining” their existing audience.
We aim to create a product that appeals to new players while retaining our existing audience in this competitive market.
What makes Stake’s entry into Italy even more interesting is the fact that it coincides with the much-anticipated major regulatory changes in the country announced by the government earlier this year.
Namely, starting in 2025, the Customers and Monopolies Agency (ADM) of Italy will require a fee of €7 million ($7.39 million) for the renewal of online gambling licenses, which is an incremental increase of €200,000 ($219,120).
While this may seem like a substantial amount, which it actually is, we should mention that these licenses are valid for a period of 9 years.
According to local media news outlets, Stake has already paid the increased gambling license fee, announcing its intentions and commitment to operate in Italy for a very long time.
