DigiPlus unit takes step closer to Brazil license
MANILA, Philippines — The operator of BingoPlus drew nearer to obtaining a federal license to operate in Brazil, which is seen as a growth market for online gambling, after completing the postqualification regulatory requirements.
In a disclosure on Friday, DigiPlus Interactive Corp. said its subsidiary DigiPlus Brazil Interactive Ltda. had also paid the license fees within the required deadline.
“We expect to receive the final list of operators authorized to operate from Jan. 1, 2025, onwards, before the end of the year,” the company said.
DigiPlus filed last August an application for the federal license that allows operations of land-based and online sports betting, electronic games, live game studios and other fixed-odds betting activities in Brazil.
Fixed-odds is a form of gambling where players bet on the probability of a certain event happening, such as the odds of a horse winning or losing in a race.
Article continues after this advertisementThe company passed the qualification stage for federal license just last month. It was then given 30 days to fulfill postqualification requirements.
Article continues after this advertisementREAD: Digiplus expects to start Brazil operations in January
Key market
DigiPlus set an initial funding of P660 million for its possible venture in Brazil.
According to DigiPlus, 87 percent of Brazil’s 200-million population has access to the internet, making that country a key market for online gambling or “iGaming.”
The online gambling operator, which also runs ArenaPlus and GameZone, saw its nine-month net income grow by over fourfold to P8.75 billion this year, driven by the retail games segment and new product offerings.
DigiPlus recently launched Pinoy Drop Ball, a digital perya (Filipino carnival) game that promises a jackpot prize of up to P200 million if the ball drops on a card that a player bets on.
