DigiPlus Interactive Corp made its expansion into the lucrative South American market official after securing a federal gaming license in Brazil.
Philippine-based iGaming company DigiPlus Interactive Corp., has secured a federal gaming license in Brazil, paving the way for its expansion into the lucrative South American market.
A filing with the Philippine Stock Exchange on January 2, 2025 confirmed DigiPlus’s authorization to operate various gaming activities, including land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting.
This successfully navigated the qualification process with Brazil’s Ministry of Finance’s Secretariat of Awards and Bets (SPA) on November 21, 2024.
The company now has 30 days to finalize post-qualification requirements, including license fee payments. With the SPA’s final list of authorized operators published, DigiPlus was expected to launch its online sports betting and iGaming services in Brazil on New Year’s 2025.
DigiPlus’ Board of Directors funded P660 million to augment the expansion, covering license fees, minimum capitalization requirements, financial reserves, and other operational costs for the initial three months.
DigiPlus is among 81 operators granted licenses, as detailed in the Official Gazette of the Union (DOU). Of these, 15 are permanent and 66 are provisional.
To get a gaming license in Brazil, companies must meet strict financial and legal standards. This includes paying R$30 million (US$4.7 million) to the government and setting aside R$5 million (US$789,862) as an emergency fund.
Some big names like SuperBet, MGM, and SportyBet got full, permanent licenses. Other major players, such as bet365, Betsson, Betano, Caesars, and SportingBet, received temporary licenses. This is all part of Brazil's plan to regulate its fast-growing online betting industry. Licensed companies will also pay a 12.5% tax on their monthly earnings to the government.
Read related article: PH Gaming Firm DigiPlus Gets Approval to Operate in Brazil
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