Stake set to make “large acquisition” in the US 

Stake CEO Ed Craven has revealed the operator is set to make a “large acquisition” in the US market.

During a livestream interview with The Gaming Update, the Australian announced that the crypto-first operator was eyeing up the regulated US market in a major strategy shift.

Craven said: “Stake is making a very big move into the US market with a large acquisition that is upcoming.”

He did not disclose any further details on the potential M&A.

The CEO announced the move after being questioned on Twitch’s decision to remove Stake and three other crypto-first operators from its platform.

At the time, Twitch said the quartet were unregulated and that by not adhering to a regulatory regime, could not be allowed on the framework.

Craven said: “I think there’s some very unfair comments in regard to what is defined as acceptable versus unacceptable. We look forward to hopefully being able to work back on Twitch under their guidelines [post-acquisition]. But I have a feeling I’m not sure whether they’re going to follow through with the whole concept of what’s regulated versus unregulated.”

Elsewhere, Craven added that he believes that streaming platform Kick will be bigger than Stake, with the site having recently broke the 10 million user account barrier.

Craven continued: “The opportunity to create a platform to compete in this space is the opportunity of a lifetime. We’ve developed and fostered relationships through being a part of the ecosystem on Twitch.

“Kick was derived from those relationships and from our ability to get to know all these amazing creators, not from Twitch banning Stake.”