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bitstarz DigiPlus unit takes step closer to Brazil license
Updated:2024-12-21 08:43    Views:196

MANILA, Philippines — The operator of BingoPlus drew nearer to obtaining a federal license to operate in Brazil, which is seen as a growth market for online gambling, after completing the postqualification regulatory requirements.

In a disclosure on Friday, DigiPlus Interactive Corp. said its subsidiary DigiPlus Brazil Interactive Ltda. had also paid the license fees within the required deadline.

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“We expect to receive the final list of operators authorized to operate from Jan. 1, 2025, onwards, before the end of the year,” the company said.

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DigiPlus filed last August an application for the federal license that allows operations of land-based and online sports betting, electronic games, live game studios and other fixed-odds betting activities in Brazil.

Fixed-odds is a form of gambling where players bet on the probability of a certain event happening, such as the odds of a horse winning or losing in a race.

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The company passed the qualification stage for federal license just last month. It was then given 30 days to fulfill postqualification requirements.

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READ: Digiplus expects to start Brazil operations in January

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DigiPlus set an initial funding of P660 million for its possible venture in Brazil.

According to DigiPlus, 87 percent of Brazil’s 200-million population has access to the internet, making that country a key market for online gambling or “iGaming.”

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The online gambling operator, which also runs ArenaPlus and GameZone, saw its nine-month net income grow by over fourfold to P8.75 billion this year, driven by the retail games segment and new product offerings.

DigiPlus recently launched Pinoy Drop Ball, a digital perya (Filipino carnival) game that promises a jackpot prize of up to P200 million if the ball drops on a card that a player bets on.

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