Stake names Canada country manager with regulated Ontario market in its sights
Former Coolbet head Kris Abott has made clear Stake is planning on further expansion into regulated markets following his appointment
Stake could soon expanded into the regulated Ontario market after parent company Easygo named Kris Abbott as country manager for Canada.
Abbott’s role will mean he is tasked with overseeing Stake’s performance in Canada, having occupied similar positions at both Kaizen Gaming and Coolbet.
It was during Abbott’s one year-tenure at Kaizen Gaming as country manager for Ontario and Canada that he helped launch the Betano brand in the Ontario market, leading the efforts by building and managing the team.
Confirming his switch, Abbott took to LinkedIn to explain: “An exciting role with an industry disruptor. Thanks to [EasyGo chief strategy officer] Brais Pena Sanchez for adding me to his team.
“I’ve been fortunate to spend some time already getting to know the sharp minds that shape this group. There are too many names to mention individually, but the team at Easygo has that special sauce.
“The goal of the company is to move into as many regulated jurisdictions as possible, and where there are licenses to get and regulations to follow, then we want to do that.
“So I would say there’s nothing different from Stake than any other operator in the market that’s also operating in pre-regulated markets.”
The company’s own confirmation of Abbott’s arrival explained that his “local footprint” in the region and decade of experience both played a part in his appointment.
Sanchez added: “Kris’ deep understanding of the Canadian market combined with his strategic vision will be important as we navigate regulatory landscapes and strive to deliver exceptional experiences to our customers.”
Abbott’s appointment comes after Easygo advertised the role of Canada country manager in Q1, indicating its plans to expand into the regulated space.
Among the responsibilities listed was the fact that the successful candidate would need to be Stake’s primary point of contact for all market shareholders, including partners and local authorities, as well as the Alcohol and Gaming Commission of Ontario (AGCO).
Abbott recently revealed during an interview with Covers that Stake has its sights set firmly on expansion into Ontario following the launch of its regulated market in April 2022.
The crypto giant recently pushed into the regulated Colombia market after acquiring Betfair’s business in the Latam nation.
Abbott said Stake’s arrival in the regulated Ontario market won’t be welcomed by everyone, given the firm is planning to “disrupt market share.”
He said: “The company’s next big foray is to move heavily into regulated spaces.
“A big part of my work right now is to ensure that we have everything that helps to meet all the standards of what the [Alcohol and Gaming Commission of Ontario] will want, and then we will push that reset, almost, on that application in the coming weeks.”
Last month, Eilers & Krejcik Gaming pegged Stake as the largest grey-market operator in Canada, controlling around 20% of the market on a GGR basis.
In Ontario, the 47 licensed operators at the time contributed to C$63bn in wagers in its second year of live operations between April 2023 and March 2024.
Ontario now boasts 50 operators, with active player accounts at 1.3 million as of Q4 2023.
EKG said: “The market, although maturing, still has good headroom left for growth—especially with Stake.com considering entry.”
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.