DigiPlus Interactive Corporation, a leader in gaming innovation from the Philippines, is set to expand its footprint to Brazil, one of Latin America’s most promising iGaming markets. Through its subsidiary, DigiPlus Brazil Interactive Ltda, the company has reached the final stages of acquiring a federal gaming license from Brazil’s Ministry of Finance’s Secretariat of Awards and Bets (SPA).

This development marks a significant milestone in DigiPlus’ strategy to diversify its presence in regulated international markets while maintaining its stronghold in the Philippines.

Advancing in Brazil’s Regulated Market

DigiPlus’ qualification stage approval brings it closer to entering Brazil’s newly regulated iGaming sector. With a population of over 200 million and an estimated gaming market of $2 billion for 2024, Brazil offers immense potential for growth. DigiPlus Chairman Eusebio Tanco emphasized the company’s commitment to meeting regulatory standards and delivering world-class gaming services.

“We are committed to bringing DigiPlus’ expertise in responsible and innovative gaming to Brazil,” said Tanco according to Manila Bulletin. “As we navigate the final steps of the licensing process, we remain confident in our ability to align with Brazil’s regulatory requirements and introduce exceptional gaming experiences to this dynamic market.”

The company now has 30 days to fulfill regulatory requirements, including platform certification and a $6 million license fee for a five-year period. Upon meeting these obligations, the SPA will release the final list of approved operators authorized to begin operations starting January 1, 2025.

A Promising Opportunity

The Brazilian gaming market presents an exciting avenue for DigiPlus’ growth. With its deep-seated passion for sports and a rapidly expanding iGaming sector, Brazil is poised to witness a market growth rate of 15-20% annually, potentially reaching $44 billion by 2029.

DigiPlus President Andy Tsui highlighted the parallels between the Brazilian and Philippine markets, noting that the company’s existing platforms, such as BingoPlus and ArenaPlus, provide a strong foundation for entering Brazil.

“The product offerings in Brazil are very similar to what we provide in the Philippines, making us well-prepared for this expansion,” Tsui explained during the PSE’s STAR Investor Day.

To accelerate its entry, DigiPlus is exploring partnerships with local operators. These collaborations could streamline the company’s launch while ensuring compliance with Brazil’s regulatory framework.

Strategic Expansion

DigiPlus has consistently demonstrated its commitment to expanding into regulated international markets. Brazil’s newly implemented gaming laws present an opportunity for the company to contribute to a fair and transparent gaming ecosystem.

The company’s leadership remains optimistic about its potential in Brazil while maintaining a strong focus on the Philippine market. As Tanco noted, “This underscores our dedication to expanding into a new region while maintaining our focus on the Philippines as our core market.”