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Stake targets regulated markets after Mexico and Buenos Aires launches
The operator says it will assess regulatory and commercial conditions before entering more markets, with Latin America central to its expansion plans.
Stake is focusing its international expansion on regulated gambling markets after receiving licenses in Mexico and Argentina's Province of Buenos Aires this year, iGaming Business reported. Latin America has become a central part of the operator's plans, director Jarrod Febbraio told the outlet.
The Mexico and Buenos Aires launches bring Stake to five regulated markets in the region, according to the report. The company also operates in Colombia and Peru, while its presence in Brazil is uncertain after a ban on the licensed sector was introduced in late September.
Febbraio said Stake would be selective about further entries, assessing regulatory frameworks, digital adoption, payment infrastructure and sporting culture. The company is monitoring other Latin American markets as their rules develop, he said.
You can’t treat LatAm as one market. The regulation is different, the sports are different, consumer behaviour is different and even the way people engage with the Stake brand varies significantly from country to country.
The move toward regulated markets brings higher operating costs and restrictions, including limits on advertising. Chief marketing officer Akhil Sarin said campaigns must account for each jurisdiction's rules while maintaining a consistent brand identity.
Stake announced in February 2025 that it would cease operations in the UK amid a Gambling Commission investigation into a widely distributed social media video. The video featured an adult entertainment actress outside a UK university and displayed Stake's logo.
Stake has also faced scrutiny over operations in markets where its status is disputed. In 2026, the 24 members of Nigeria's Federation of State Gaming Regulators declared it an illegal operator, iGaming Business reported.
Febbraio said the pace of future expansion would depend on conditions in each jurisdiction. Stake plans to enter markets where it sees a viable regulatory and commercial framework and a long-term opportunity, he said.