Stake Opens São Paulo Office

Stake, a major global online casino operator, has made a bold move by opening a new office in São Paulo, Brazil, as the country gears up for the launch of its regulated online gambling market. With approval from the Ministry of Finance, Stake joins over 100 companies applying for a license to operate in one of the world’s most anticipated gaming markets. Get ready to discover how this move sets the stage for Stake’s expansion in Brazil’s rapidly evolving gambling landscape.

Stake Opens São Paulo Office as Brazil Prepares for Regulated Online Gambling Market

As Brazil prepares to open its regulated online gambling market on January 1, 2025, global online casino operator Stake has officially opened a new office in São Paulo. This move comes after receiving authorization from the Ministry of Finance to advance its application for a Brazilian online gambling license.

The opening of Stake’s São Paulo office marks a significant milestone for the brand, which has already made its presence felt in Brazil’s unregulated market. The new office will be led by a dedicated country manager and will support Stake’s efforts to deliver a premium online gambling experience to local customers.

Key Points:

1. São Paulo Office Opening: Stake has opened a new office in São Paulo as it applies for an online gambling license in Brazil.
2. Regulatory Approval: Stake is among over 100 companies applying for a license, positioning itself for success in the regulated market.
3. Existing Market Presence: Stake is already active in Brazil’s unregulated market, with high-profile sponsorships in Serie A football and UFC.

The Brazilian government’s efforts to regulate the country’s online gambling industry have accelerated in recent months, with the Ministry of Finance currently evaluating Stake’s and other operators’ license applications. As part of its strategy, Stake has already established strong visibility in Brazil through sponsorship agreements with Serie A team Juventude and UFC stars Alex Pereira and Alexandre Pantoja.

The company stated, “The Ministry of Finance is in the process of evaluating a licence application. The inclusion of Stake in the list of authorised operators will allow Stake Brazil to continue offering the best-in-class gambling and betting experience that local customers expect.”

Brazil’s Regulatory Landscape

The opening of Stake’s São Paulo office coincides with Brazil’s transition to a regulated online gambling market. The country’s new regulator, the Secretariat of Prizes and Bets (SPA), is actively correcting and updating its list of approved operators. Earlier this week, the SPA added four more companies to the list of operators authorized to continue offering services during the transition period, increasing the number of operators from 89 to 93 and brands from 193 to 205.

The SPA has been stringent in its regulation, requiring operators to submit their applications by October 1 if they intend to operate between October 1 and December 31. Any company excluded from the list of approved operators risks losing access to Brazil’s lucrative gambling market once regulations fully take effect in January 2025.

Growth Opportunities for Stake

With Brazil’s gambling market projected to become one of the most significant in the world, Stake’s decision to establish a presence in São Paulo reflects the brand’s confidence in the market’s potential. Stake’s new Brazil office will focus on tailoring its offerings to the local market, ensuring compliance with Brazilian regulations, and enhancing customer acquisition and retention.

In addition to its traditional casino and betting services, Stake offers a comprehensive suite of products, including fantasy sports, lotteries, and affiliate programs, positioning itself as a major player in the rapidly growing iGaming space in Latin America.