Brazil’s Ministry of Finance has granted Stake Brazil Ltda. official authorization to operate within the country’s expanding iGaming sector. The decision follows a detailed review of Stake’s application and supporting documents, allowing the company to continue providing its gaming and betting services to Brazilian consumers while the Ministry evaluates its full license application.
The company plans to open a new office in São Paulo, appoint a country manager, and expand its team to increase its local footprint and further integrate into the Latin American market.
Stake has already made a mark in Brazil through its partnerships, including a successful collaboration with Série A football club Juventude, which reached the Campeonato Gaúcho Final and Copa do Brasil Quarter-Final in its first season under the Stake banner. The brand has also strengthened its ties with UFC in Brazil, working with prominent athletes such as Alex Pereira and Alexandre Pantoja.
Expressing gratitude, Stake extended thanks to its customers, partners, and Brazilian authorities for their support throughout the application process. The company looks forward to enhancing its gaming offerings and continuing its growth in the Brazilian market.
In August, Stake announced that it was granted a casino and a sportsbook license in Peru, enabling it to launch stake.pe. According to Stake, this addition marks an “exciting step forward” in Stake’s strategic expansion into the Latin American and regulated markets.
Along with the news of the stake.pe launch, Stake hired a local Country Manager in Peru, Jennyfer Escobar, who joins the team alongside a suite of senior women leading the LatAm strategy for Stake.