One of the most promising iGaming markets in Latin America is Brazil, where DigiPlus Interactive Corporation, a pioneer in game innovation from the Philippines, plans to increase its presence. The business has advanced to the last round of obtaining a federal gaming license from the Secretariat of Awards and Bets (SPA) of Brazil’s Ministry of Finance through its subsidiary, DigiPlus Brazil Interactive Ltda.
This move represents a major turning point in DigiPlus’ plan to expand into regulated foreign markets while preserving its market dominance in the Philippines.
DigiPlus is now one step closer to joining Brazil’s recently legalized iGaming market thanks to its qualification stage approval. Brazil, home to more than 200 million people, has enormous growth potential, with a projected $2 billion online gaming market in 2024. Eusebio Tanco, chair of DigiPlus, highlighted the company’s dedication to providing top-notch gaming services and adhering to legal requirements.
DigiPlus Aims to Lead in Brazil iGaming
According to the Manila Bulletin, Tanco stated, “We are dedicated to bringing DigiPlus’ expertise in responsible and innovative gaming to Brazil.” “As we proceed through the last stages of the licensing procedure, we are confident in our capacity to comply with Brazilian regulations and bring top-notch gaming experiences to this vibrant market.”
The business now has 30 days to complete regulatory obligations, such as platform certification and a five-year, $6 million license fee. The SPA will publish the final list of authorized operators who can start operations on January 1, 2025, when these requirements have been fulfilled.
A Hopeful Possibility
The gaming industry in Brazil offers DigiPlus a promising growth path. Brazil is positioned to have a market growth rate of 15-20% per year, with the potential to reach $44 billion by 2029, thanks to its enduring love of sports and its quickly growing iGaming industry.
The company’s current platforms, like BingoPlus and ArenaPlus, offer a solid basis for entering the Brazilian market, according to DigiPlus President Andy Tsui, who also emphasized the similarities between the Philippine and Brazilian markets.
DigiPlus Eyes Expansion to Brazil
“We are well-prepared for this expansion because the product offerings in Brazil are very similar to what we provide in the Philippines,” Tsui said at the PSE’s STAR Investor Day.
DigiPlus is looking at forming alliances with regional carriers in order to expedite its arrival. These partnerships could expedite the business’s launch while guaranteeing adherence to Brazilian regulations.
Strategic Growth
DigiPlus has continuously shown that it is dedicated to entering overseas markets that are subject to regulations. Brazil’s recently enacted gaming regulations offer business a chance to support an open and equitable gaming environment.
