Stake expands into Peru

Garance Limouzy August 22, 2024

SiGMA news

Stake expands into Peru

The online casino and sportsbook operator Stake has successfully obtained a licence to operate in Peru, consolidating its expansion into the growing Latin American market.

Diana Otalora, the General Manager for Latin America at Stake, expressed the company’s enthusiasm about entering the Peruvian market: “We are thrilled to bring Stake to Peru, a country brimming with potential for digital innovation and growth. The progress we have observed in recent years reaffirms our decision to invest in this dynamic market.”

Governance

Jennyfer Escobar has been appointed as the new Country Manager. She brings nine years of experience in the Peruvian gaming industry and has previously worked with Easygo (the Australian parent company of Stake), BoyleSports, and Inkabet. Escobar shared her excitement about joining Stake, stating, “I am honoured to be part of the Stake team and am eager to lead our initiatives in Peru. The market here holds immense growth opportunities, and I look forward to deepening our engagement with the region. I’m excited to contribute to the evolving gaming landscape in Peru and to drive innovation within the industry.”

Newly regulated market

Stake is now one of the pioneering companies to secure a licence under Peru’s newly implemented regulatory framework for online gambling. In October 2023, the Peruvian Ministry of Foreign Trade and Tourism (Mincetur) endorsed the new regulation, which was officially launched in February 2024. As the third South American nation to regulate online gaming, following Colombia and several provinces in Argentina, Peru’s new regulated market has garnered interest. By June 2024, companies such as Betsson, Booming Games, and 7777 Gaming had already been granted licences to operate.

Stake’s worldwide expansion

Stake’s entry into Peru follows its previous expansion in Latin America, including the acquisition of Betfair Colombia last year. Recently, the operator has also pursued the acquisition of the Italian operator Idealbet.