DigiPlus secures Brazil gaming license for sports betting and online games
DIGIPLUS Interactive Corp.'s subsidiary, DigiPlus Brazil Interactive Ltda., has secured a federal gaming license in Brazil, marking its first international expansion.
The Brazilian Ministry of Finance's Secretariat of Awards and Bets granted the company permission to operate sports betting and online gaming services after passing the qualification stage on Nov. 21, 2024.
Chairman Eusebio H. Tanco emphasized DigiPlus' commitment to responsible gaming and leveraging localized insights for success in Brazil's dynamic market with 87 percent internet penetration among its population of 200 million.
DigiPlus plans an initial investment of P660 million to cover license fees, capitalization, reserves, and operational expenses as required by the Brazilian government.
The company reported a significant increase in net income and revenue for the first nine months of 2024, with earnings more than quadrupling to P8.75 billion.
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