DigiPlus Interactive Corp. said it is exploring opportunities in Brazil’s online gaming (iGaming) market following the recent legalization of gaming and betting activities in the country.
The company told regulators Monday that its subsidiary, DigiPlus Brazil Interactive Ltd., filed an application for a federal license, Licení§a Para Loterias De Apostas De Quota Fixa, that allows the operations of land-based and online sports betting, electronic games, live game studios and other fixed-odds betting activities in Brazil.
“The result of the license application is expected to be released on or before the end of November,” DigiPlus said.
“Currently in its preliminary stages, DigiPlus is looking to diversify its portfolio into new markets with enabling regulatory environment for iGaming,” it added, stressing however that the Philippine operation will remain its core market.
“DigiPlus recognizes Brazil’s strong potential as one of the fastest-growing gaming markets in Latin America. The country has a population of over 200 million, with internet penetration at 87 percent,” it said.
Early this month, DigiPlus said it closed the first half of the year with a profit of P5.22 billion, up 377 percent from last year’s P1.1 billion.
Revenues hit P32.56 billion, up 263 percent from P8.97 billion.
“The first semester was encouraging for DigiPlus. Despite the challenges, we strive to continue to innovate and deliver unparalleled digital entertainment experiences to our customers. By optimizing user engagement through personalized experiences and diversifying our content offerings, we believe we are poised to capture the strong growth of the digital entertainment industry,” said Eusebio Tanco, DigiPlus chairman.
