Stake Pursues Further Expansion in Latin America After Launching in Mexico

Stake’s entry into the Mexican market earlier this month aligns with its long-term strategy in Latin America, according to Diana Otalora, the company’s General Manager for the region. The launch, which occurs ahead of the World Cup, is part of Stake’s efforts to identify new expansion prospects. Operating under a license agreement with Uno Capali and the Mexican gambling regulator SEGOB, Stake already holds licenses in Colombia, Peru, and Brazil since 2023. Otalora hinted at further growth as regulations in Latin America evolve, stating, “LatAm is a strategic priority for us, and there are other markets we’re actively monitoring. Stake is committed to redefining entertainment at scale – and that means bringing our product to more players.” Each of Stake’s regulated markets in Latin America requires a localized strategy due to the continent's cultural diversity. Otalora noted, “Every market is different, which makes Latin America very special. The regulatory environments differ, user behavior differs, sports preferences differ. That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently.” In a statement announcing the launch, Stake Director Jarrod Febbraio referred to the market as the “natural next step” in the company’s LatAm expansion due to its long-term potential. Otalora further emphasized, “Mexico has everything we look for in a new market opportunity: a deep sports culture, a large and passionate population, and accelerating digital adoption. We’ve always taken a long-term view in LatAm, and entering Mexico ahead of a major tournament it is co-hosting reflects our broader growth trajectory in the region.” Febbraio stated that the launch timing was strategic, coinciding with the World Cup, while also noting that Mexico had been part of Stake’s plans for some time. “Expanding our presence in LatAm and building a genuine connection with each local community is key to our growth,” Otalora explained. The global strategy of Stake includes sponsorships, such as being the front-of-shirt sponsor for English Premier League club Everton and the title sponsor of Sauber’s F1 team for the 2024 and 2025 seasons. As it seeks to enhance brand recognition in Mexico, Otalora concluded, “Sponsorship has always been central to how we build brand presence in markets where we operate, and Mexico certainly has a rich sporting culture we can lean into. We are always interested in activating locally and globally through relevant talent and means.