To consolidate its business in Latin America, the cryptocurrency-focused gambling pioneer Stake made its debut in Colombia and soon after expanded into the Peruvian market. The company hired former Inkabet head Jennyfer Escobar to help guide operations, as the company also obtained a local license there.
Peru is the next growth target for Stake.com
Escobar is a seasoned industry veteran who has held a similar position at BoyleSports and, as the project manager for Stake in the country, she brings a wealth of relevant experience.
However, according to her LinkedIn page, she spent most of her career at Inkabet, joining the company in November 2015 and leaving in June 2022.
Escobar welcomed her appointment as part of Stake's local transformation journey and expressed her hope to support the operator's efforts in the local Peruvian iGaming market. She added:
"The Peruvian market has tremendous growth potential, and we look forward to further collaboration with the region. I am excited to continue contributing to Peru's vibrant gaming world and to drive innovation in this evolving industry."
With Latin America clearly indicating a move into local markets, Stake.com's iGaming and sports betting market in Latin America is rapidly expanding.
In addition to entering the Colombian market through an ambitious local deal, the company has also engaged in similar negotiations with Mexico and Paraguay. Stake.com acquired Betfair's operations in Colombia, thereby securing a foothold in the market.
Stake has invested $800,000 to obtain a gambling license in Peru, and it is not the only company valuing local expansion. Betsson Group acquired Inkabet to thoroughly consolidate its local business.
