Stake Expands Latam Presence With Buenos Aires Licence

Stake has continued its expansion across Latin America after securing a licence to operate in the Province of Buenos Aires within Argentina’s regulated market. The approval was granted by the Provincial Institute of Lottery and Casinos.

This move gives Stake access to Argentina’s largest province, home to almost 40% of the country’s population. It also solidifies the company’s position in a market that generated $5.03bn in gambling gross win during 2025, according to H2 Gambling Capital.

In announcing the launch, Stake highlighted Argentina’s strong sporting culture and growing digital adoption as key attractions for the business.

Company Targets Further Latin American Growth

LatAm General Manager Diana Otalora described the launch as an important milestone for the company’s ambitions across the region.

“We’ve continued to build momentum across Latin America in recent years, and this launch reflects our ambition to establish Stake as the leading entertainment brand in the region,” Otalora commented.

“[This] is a market with energy and identity and we’re excited to bring our world-class sportsbook and casino experience to players through Stake.bet.ar.”

The operator has accelerated its expansion efforts throughout Latin America in recent months as competition for regulated market share intensifies.

Provincial Regulations Continue To Shape Market

Argentina remains one of the most complex regulated gambling markets in the region due to its provincial licensing structure.

Most of Argentina’s 23 provinces have introduced legal online gambling markets, while Buenos Aires operates as an autonomous city with its regulatory framework. The system stems from Article 121 of Argentina’s constitution, which leaves gambling regulation outside federal jurisdiction.

Industry stakeholders have long argued that a national framework could simplify market entry and create a more consistent operating environment.

Speaking to iGB in May, Atucha Strategic Advisory Founder and CEO Ramiro Atucha said: “It’s challenging for international operators to enter Argentina. Mostly, I would say because of the state-by-state system, but also on the fact that they need to find a local partner to share the licence with.”

Argentina Becomes Stake’s Fifth Regulated Market

The Buenos Aires launch makes Argentina the fifth regulated Latin American market where Stake now holds a licence, alongside Colombia, Brazil, Peru and Mexico.

The company entered Mexico earlier this month and has repeatedly identified Latin America as a strategic growth region.

Otalora recently explained that Stake’s expansion strategy relies heavily on local market knowledge across the region.

“Every market is different, which makes Latin America very special. The regulatory environments differ, user behaviour differs, sports preferences differ,” Otalora explained.

“That nuance is what makes regional experience genuinely valuable, and it’s why we approach each market slightly differently.”

Stake has secured a new licence in Buenos Aires ahead of the 2026 FIFA World Cup. This is another sign of how seriously major operators are taking Latin America for the upcoming tournament. Argentina is a highly attractive gambling market because of its large population, strong sports culture and growing digital adoption.