Stake added to Brazil’s approved operator list
Brazil’s Ministry of Finance includes the operator on updated list of companies authorised to offer gambling in the country until the end of the year, in preparation for the regulated market’s launch in January 2025
Stake has been included on Brazil’s list of operators authorised to offer gambling services in the country until 31 December in a major boost for the crypto-first firm’s regulated market aspirations.
The South American country’s Ministry of Finance included Stake on the list of 96 operators following a review of its initial application and supporting documents.
The ministry had originally published a list of 89 approved operators on 2 October, with seven business being added to the document since its publication.
The Brazilian government will now review Stake’s full licence application which would allow the operator to remain live when the regulated Brazilian market launches in January 2025.
Alongside confirming its inclusion on the approval list, Stake said it would be opening an office in São Paulo and hiring a dedicated Brazil country manager, as it had done in other Latam territories.
Easygo, the company behind Stake, republished a job ad on LinkedIn four days ago for a Brazil country manager.
The business is on the hunt for a candidate with a minimum of three years’ experience in the sector, with “proven experience in online gambling operations in Brazil”.
A Stake statement read: “While the Ministry of Finance is in the process of evaluating a full licence application, Stake’s inclusion on the authorised operator list will allow Stake Brazil to continue offering the best-in-class gaming and betting experience that local consumers have come to expect.
The regulator complied the approved operator list ahead of the January launch in order to give companies that didn’t apply for a licence the chance to leave the market.
The ministry initially set a deadline of 1 October for unlicensed companies to start winding down operations, with websites being removed from 11 October onwards.
Since the Ministry of Finance released its list of 89 approved operators and 193 brands earlier this month, along with Stake, BRX Gaming, Amplexus (Parimatch), Nexus International, JBD, Hiper Bet and LBBR have also been added.
BRX Gaming will remain live with its BRX and Ricbet brands, Nexus runs the Megaposta, Betex and Lanistar sites and JDB operates Marjosports, Hanzbet and Chegoubet.
Finally, LBBR will also run three brands through to the end of the year in the shape of Luck.bet, 1 Pra 1 and StartBet.