Stake will enter the Italian online gambling market in 2025 after completing its acquisition of Idealbet and paying the €7m ($7.4m) fee for a nine-year license. [Image: Shutterstock.com]
Popular gambling operator Stake is eyeing up the Italian market after completing a takeover of Idealbet. Starting next year, Stake will transform the existing Idealbet online casino and sportsbook using proprietary technology and introducing games it built in-house.
The crypto casino got the stamp of approval after paying a €7m ($7.4m) online gambling concession fee to the country’s Customs and Monopolies Agency (ADM) for a nine-year license. Stake plans to open a Rome office to help create a strong presence locally.
Talking about the plans for 2025, the Chief Strategy Officer of Stake’s parent company Easygo, Brais Pena, promised it will “offer a product that will attract and retain players, even in a very competitive market.”
market entry coincides with a new online gambling licensing regime in Italy
The market entry coincides with a new online gambling licensing regime in Italy under the ADM’s control. As well as the €7m ($7.4m) license fee, an annual 3% charge of gross gaming revenue (GGR) net of taxes is payable starting next year, and operators must invest 0.2% of net gross gaming revenue into responsible gambling campaigns.
An advertising ban remains in effect in Italy, preventing operators from carrying out most basic marketing activities, including sponsoring local sports teams.
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