Stake expands into Peru and adds ex-Inkabet head as country manager
Australia-based operator bolsters Latam presence with Peruvian launch following Colombian debut last year
Stake has secured a licence in the newly regulated Peruvian market as the crypto-centric company continues its push into Latam.
The operator will launch the stake.pe platform in the nation to follow up on its debut in Colombia last year.
The expansion into Colombia came after Stake acquired Betfair’s local business from Flutter Entertainment in an undisclosed deal last November.
When confirming its initial foray into Latam, Stake revealed it had applied for a Peruvian licence, as well as securing market-access agreements for Mexico and Paraguay.
The recently regulated Peru market had required prospective operators to apply for a licence by March after a regulatory framework was approved in October 2023.
Operators in Peru will face a 12% tax on net profit while licences cost about £650,000.
As well as expanding into Peru, Stake has tapped former Inkabet head Jennyfer Escobar as its country manager for the market.
The exec joins the operator from BoyleSports where she had a brief four-month stint as growth manager in Lima, the Peruvian capital, this year.
BoyleSports, a traditionally UK and Ireland-focused firm, expanded into Peru in Q2 2023 with the acquisition of local operator Timberazo.
The majority of Escobar’s igaming career was spent with Inkabet between November 2015 and June 2022.
Originally joining as a marketing analyst, she stepped up to become marketing manager in February 2018.
Betsson acquired Inkabet for $25m in August 2021, with a further $4m potentially to be paid if the business hits certain targets.
The deal valued Inkabet at 3.8x EBITDA for the 12 months to June 2021.
Speaking on linking up with Stake in Peru, Escobar said: “I am thrilled to join team Stake and help to guide efforts in Peru.
“The Peruvian market has significant growth potential and we look forward to engaging even further with the region.
“I’m excited to continue contributing to the dynamic world of gaming in Peru and to drive innovation in this evolving industry.”
Diana Otalora, Stake Latam general manager, said: “We are delighted to bring Stake to Peru, a country that has a lot of potential for digital growth, which has been evident in recent years.
“This shows our ambition to provide world-class entertainment to Peruvian customers and to expand our reach in Latam.”
In Europe, Stake has acquired Italian operator Idealbet from the Octavian Group to further strengthen its presence in regulated markets.