Stake secures casino and sports license in Brazil

Stake, a global betting and gaming operator, has confirmed that as of January 2, it is a fully licensed gambling company in Brazil.

The company will be able to offer both its Casino and Sportsbook platforms in the market and joins the long list of approved companies to have secured an entry at the turn of the year, Casino Guru News was informed via press release.

Stake is now a licensed casino and sportsbook brand in Brazil

Brazil is now an officially-regulated market as of January 1, following years of fine-tuning and debates about how to best legalize the market. The entry into Brazil is a significant regional milestone for Stake, which is already available in Colombia and Peru, and has been keen to increase its presence in Latin America.

Commenting on the opportunity to see the company obtain the important licenses in Brazil, which the company considers one of its most strategically relevant, Stake Chief Strategy Officer Brais Pena, argued that it was indeed a significant milestone for the company. In a detailed statement, Pena said:

"For Stake the licence means a further step in its global expansion into regulated markets. In this case, the relevance of the market and the speed at which we have achieved it is a good example of how we work. Stake Brazil users can expect a similar experience to Stake.com; the best customer service, good product, good games and in general what we have always been known for which is to put the customer at the centre of all operations, marketing, and product decisions."

The company has similarly tapped a new local Country Manager in the face of Thomas Carvalhaeswho will seek to work with the company’s local team, consisting of 10 members locally for the time being, who will spearhead the brand’s growth in the newly-fledged market.

New Country Manager to lead initial foray into Brazil

Commenting on his appointment, Carvalhaes was excited to join the company right from the onset and play a part in establishing its local operations.

"I am taking the lead of a brand that has the ability to innovate and find the right opportunities to speak with the right audience, that is something really powerful and definitely a winning combination," he added.

Stake employs more than 1,000 people globally and is one of the fastest-growing sports betting and gaming companies with multiple market presences and sponsorships with some of the biggest sports clubs across numerous sports.

Image credit: Stake.com