DigiPlus Interactive Corp. is leveraging on the success of its local online betting platform ArenaPlus for its venture into Brazil.
Celeste Jovenir, DigiPlus vice president for investor relations, said the company is preparing for the operation of the Brazil venture by the fourth quarter of this year.
“ArenaPlus will be the vehicle,” Jovenir said.
Early last week, DigiPlus said it has secured one of the licenses to operate a sports betting and online games up for grabs in Brazil through unit DigiPlus Brazil Interactive Ltda.
The license, of which only 10 percent of those who applied were awarded with, allows DigiPlus to operate land-based and online sports betting, electronic games, live game studios and other fixed-odds betting activities in the Portuguese-speaking country.
In November last year, the company allocated P660 million as initial fund for license fees, minimum capitalization, financial reserves and other operational expenses of the Brazil venture.
