DigiPlus said its affiliate passed the qualification stage for a federal license issued by Brazil’s Ministry of Finance’s Secretariat of Awards and Bets.
Philippine tech firm DigiPlus Interactive Corp. is one step closer to securing a federal license to operate in Brazil's rapidly growing online gaming sector. The company revealed that its subsidiary, DigiPlus Brazil Interactive Ltda., has successfully passed the qualification stage for a license with the Ministry of Finance’s Secretariat of Awards and Bets (SPA), a key regulatory body in Brazil’s newly regulated iGaming market.
This is based on its filing with the Philippine Stock Exchange on November 21, 2024. This milestone brings DigiPlus closer to participating in one of Latin America's most dynamic and expanding gaming markets. Brazil, with a population of over 200 million, has seen significant growth in the demand for online sports betting and other iGaming services. The Brazilian government recently took steps to regulate the sector, opening up new opportunities for operators like DigiPlus to enter the market.
The qualification stage is a critical part of the licensing process. With this step completed, DigiPlus is now positioned to move into the final stages of securing its license. However, the company must still fulfill a series of regulatory requirements within the next 30 days. These include platform certification and the payment of necessary license fees. Once these requirements are met, SPA will finalize its list of approved operators, with licenses set to be granted starting on January 1, 2025.
If DigiPlus successfully navigates these final steps, it will be permitted to operate in Brazil’s iGaming space, which includes online sports betting and other gaming services. The Brazilian market is seen as particularly attractive due to the country's large, sports-enthusiastic population and its strong appetite for betting. The country’s growing interest in legalized online gaming makes it a prime target for expansion for companies like DigiPlus, which already operates successful platforms in the Philippines, including BingoPlus and ArenaPlus.
DigiPlus has emphasized its commitment to responsible gaming, an important aspect of its business philosophy. Chairman Eusebio Tanco expressed confidence in the company’s ability to meet Brazil’s regulatory requirements while introducing a high standard of gaming experiences to Brazilian consumers. “We are committed to bringing DigiPlus’ expertise in responsible and innovative gaming to Brazil,” Tanco stated. “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.”
The move into Brazil is part of DigiPlus' broader strategy to expand into international markets. The company’s successful operations in the Philippines have provided it with a solid foundation, and now it is looking to diversify and strengthen its presence in other regions. This expansion aligns with DigiPlus’ broader goal of diversifying its revenue streams while maintaining its focus on its core market in the Philippines.
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