Stake has gained entry to the licensed Italian market after acquiring the long-running brand Idealbet. [Image: Shutterstock.com]

Stake now has a presence in the Italian gambling market after agreeing to acquire Idealbet. Baldo Line, the company operating the brand, holds a license with the Italian regulator, which has allowed it to offer sports betting and casino games to locals since 2012. Stake will keep running Idealbet under the same name and the company will now open its own office in Italy.

helps the company increase its global footprint

Brais Pena, the Chief Strategy Officer of Stake’s parent company Easygo, welcomed the transaction as it helps the company increase its global footprint, especially in such an established market.

Stake is constantly looking at gaining a foothold in regulated markets, with other recent deals seeing it gain entry into Latin America.