DigiPlus Interactive Corp. is getting a step closer with its plan to tap Brazil’s growing online gaming market, after its subsidiary qualified for a gaming license in South America’s largest country.
DigiPlus said in a disclosure to the stock exchange Thursday DigiPlus Brazil Interactive Ltda. passed an important qualification stage for a federal license. The license is issued by Brazil’s Ministry of Finance’s Secretariat of Awards and Bets (SPA).
The company said it now has 30 days to meet additional regulatory requirements, including platform certification and paying necessary fees.
Once these steps are completed, SPA will release the final list of approved operators, which will be allowed to begin operating from January 1, 2025.
If granted the license, DigiPlus said it would offer online sports betting and other iGaming services in Brazil, a country with more than 200 million people and a strong interest in sports betting. This is seen as a major growth opportunity for DigiPlus.
“We are committed to bringing DigiPlus’ expertise in responsible and innovative gaming to Brazil,” said Eusebio Tanco, chairman of DigiPlus.
“As we navigate the final steps of the licensing process, we remain confident in our ability to align with Brazil’s regulatory requirements and introduce world-class gaming experiences to this dynamic market. This underscores our dedication to expanding into a new region while maintaining our focus on the Philippines as our core market,” he said.
DigiPlus said Brazil has a strong potential as one of the fastest-growing gaming markets in Latin America given its high population rate and internet penetration of 87 percent.
DigiPlus said it is focusing on expanding into international markets with strong regulatory frameworks.
It views Brazil’s new iGaming laws as a chance to promote a fair and transparent gaming environment, while continuing its mission to deliver trusted, high-quality entertainment to players around the world.
DigiPlus, formerly Leisure and Resorts World Corp., is the fastest-growing digital entertainment group in the Philippines. It offers retail and electronic games, including sports betting.
