By 2025, Stake plans to be a major force in the restructured online gambling industry in Italy. Following Stake's successful acquisition of Baldo Line SRL, the operator of the venerable Italian sportsbook brand Idealbet.it, the statement was released. Through the agreement, Stake will purchase the online gambling license for Baldo Line from Octavian Group, its former owner. The Customs and Monopolies Agency of Italy will impose a €7 million fee for online gambling concessions starting in 2025, with a nine-year operating period.
Stake pays $7million fee to refresh Idealbet
- Thread starter Lazza
- Start date
Stake aims to establish a strong presence in Italy's evolving online gambling market by 2025, leveraging its acquisition of Baldo Line SRL, the operator of Idealbet.it. This move secures Stake a vital online gambling license, previously owned by the Octavian Group. The transition aligns with Italy's upcoming regulatory changes, which include a €7 million fee for online gambling concessions valid for nine years. Stake's strategic acquisition positions it to capitalize on the restructured market and expand its footprint in Italy's competitive gaming industry.