DigiPlus eyes Brazilian market entry
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DigiPlus Interactive Corp. -- the listed company that operates local digital gaming platforms like BingoPlus, ArenaPlus and PeryaGame -- is seeking to enter the Brazilian market amid easing regulatory environment, marking its first overseas venture.
The company said in a stock exchange filing on Monday that its wholly-owned subsidiary, DigiPlus Brazil Interactive Ltda., has applied for Licença Para Loterias De Apostas De Quota Fixa, over the weekend.
The application seeks to secure a federal license that would allow DigiPlus to operate land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities in Brazil.
The anticipated release date for the license application results is on or before the end of November.
According to DigiPlus, expanding outside the Philippines followed Brazil's recent legalization of gaming and betting activities.
With a population of over 200 million and an internet penetration at 87 percent, DigiPlus sees Brazil's strong potential as one of the fastest-growing gaming markets in Latin America.
However, despite the company's pursuit of portfolio diversification into new markets with favorable iGaming regulatory environments, the Philippines remains its primary focus.
