DigiPlus Interactive Corp., an online gaming company listed on the Philippine Stock Exchange, on Thursday said the Brazilian government has granted its wholly-owned subsidiary, DigiPlus Brazil Interactive Ltda., the definitive authority to operate sports betting and other online games in Brazil.
DigiPlus stated that its Brazilian subsidiary is one of the select 10 percent of total applicants to receive the coveted definitive authority from the Secretariat of Awards and Bets, the regulatory body overseeing gaming activities in the country.
In August, DigiPlus Brazil submitted its application for the Licença Para Loterias De Apostas De Quota Fixa, a federal license that authorizes the operation of land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities across Brazil.
After successfully passing the qualification stage on 21 November with Brazil’s Ministry of Finance’s Secretariat of Awards and Bets, DigiPlus was given 30 days to meet additional regulatory requirements, including payment of the license fees.
To support this process, DigiPlus has allocated an initial fund of P660 million to cover the necessary license fees, minimum capitalization, financial reserves, and other operational expenses as part of the post-qualification procedure. The company intends to utilize these funds over a three-month period to meet the required milestones.
The Brazil license is significant expansion for DigiPlus into the lucrative South American gaming market, reflecting the company’s ongoing strategic growth and international ambitions.
