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Manila Bulletin devider Business devider The Stock Market devider With license in hand, DigiPlus now hunts for Brazil gaming ally

With license in hand, DigiPlus now hunts for Brazil gaming ally

Published Feb 4, 2025 07:59 am

Tanco-led online gaming firm DigiPlus Interactive Corporation is looking for an industrial partner for its entry into the Brazilian market by the last quarter of this year.

In an interview, DigiPlus Chairman Eusebio Tanco said they have already tapped a Brazilian bank to help search for an industrial partner in the South American country.

He noted that, while they have already secured funding for the venture into the potentially huge Brazilian market, they are still open to having a local partner for the business.

“I think we have sufficient resources, but maybe as a strategic partner,” he said, stressing that it has to be a gaming partner.

DigiPlus Vice President for Investor Relations Celeste Jovenir said “We haven’t identified a partner yet. The team is still on the search, like looking at different companies there. So we have an investment banker actually helping us.”

She also said that DigiPlus has already formed the management team that will be responsible for its operation in Brazil.

The company has allocated an initial P660 million for its Brazil venture to cover for the gaming license and operating expenses for the first three months. Jovenir said DigiPlus is still finalizing the full plan for the Brazil venture.

Jovenir said the company is in the process of firming up operational plans after being granted by the Brazil government the Definitive Authority to operate sportsbetting and other online games.

Digiplus said “Only 10 percent of the total applicants received Definitive Authority from the Secretariat of Awards and Bets, which includes DigiPlus.”

“Brazil’s dynamic gaming landscape presents a pivotal milestone in DigiPlus’ global journey. We are bringing not just our innovative platforms and diverse gaming portfolio but also our unwavering commitment to responsible gaming,” said Tangco.

He added that, “By combining our proven platforms with localized insights, we are confident in our ability to resonate with Brazilian players and contribute to the country’s thriving iGaming sector.”

Last November, Digiplus said it has passed the qualification stage for a federal license with Brazil’s Ministry of Finance’s Secretariat of Awards and Bets (SPA) which placed it in the final stages of the licensing process so it could participate in Brazil’s newly regulated iGaming sector, one of Latin America’s most dynamic and rapidly growing gaming markets.

With a population exceeding 200 million and great enthusiasm for sports betting, Brazil represents a significant growth opportunity for DigiPlus.

Tanco said “This underscores our dedication to expanding into a new region while maintaining our focus on the Philippines as our core market.”

DigiPlus President Andy Tsui said “Brazil has a big population, which is about two times as Philippines, and also with a deep rooted passion for sports.”

“We understand that the market size is about $2 billion for 2024 and we expect it to grow about 15 to 20 percent over the next five years. So the market size may reach to around $4 billion by 2029.

Related Tags

Eusebio Tanco Andy Tsui DigiPlus Interactive Corp. (DigiPlus)
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