Stake is now a Licensed Casino and Sportsbook Brand in Brazil

As of January 2, Stake, a multinational betting and gaming operator, has verified that it is a fully licensed gambling business in Brazil.

According to a press release from Casino Guru News, the company will be allowed to provide both its casino and sportsbook platforms in the market and join the extensive list of authorized businesses that have obtained an entry at the beginning of the year.

As a result of years of refinement and discussions over the best way to legalize the market, Brazil is now formally regulated as of January 1. Stake, which is also available in Colombia and Peru and has been eager to expand its footprint in Latin America, has reached a major regional milestone with its arrival into Brazil.

Speaking about the potential for the business to acquire significant licenses in Brazil, which it views as one of its most strategically significant markets, According to Stake Chief Strategy Officer Brais Pena, it was a major turning point for the business. In a thorough declaration, Pena stated:

"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."

In a similar move, the firm hired Thomas Carvalhaes as a new local country manager. He will work with the company's local team, which now consists of ten people, to drive the brand's expansion in the newly established 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.