DigiPlus Interactive Corp, a Philippine-listed company, claims its board has approved a “initial funding” of PHP660 million (US$11.2 million) for its pursuit of a federal license for iGaming activities in Brazil. On Thursday, the business said that one of its wholly-owned subsidiaries, DigiPlus Brazil Interactive Ltda, has “passed the qualification stage” for a permit in the Brazilian market.
In a filing on Friday, DigiPlust stated that the initial allocation of PHP660 million would be used to “pay for the licence fees, minimum capitalisation [requirement], financial reserves, and other operational expenses as part of the post-qualification process” being conducted by the Ministry of Finance’s Secretariat of Awards and Bets of Brazil.
“This initial funding is intended for a three-month horizon,” DigiPlus explained.
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According to the business, the government license in Brazil would allow it to conduct “operations of land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities” in that country. DigiPlus Invests in Brazil iGaming.
DigiPlus had stated that it will have “30 days to fulfil post-qualification regulatory requirements, including platform certification and licence fee payments”.
After completing the post-qualification procedures, the Secretariat of Awards and Bets “shall release the final list of operators authorised to operate from January 1, 2025, onwards,” the company noted.
DigiPlus is a Philippine holding company that invests in gaming and leisure industries, such as bingo and a digital sportsbook platform.
In 2022, the company launched BingoPlus, an online bingo service, and in February 2023, DigiPlus released ArenaPlus, a new sports betting brand.
In a separate development, DigiPlus Invests in Brazil iGaming and DigiPlus stated that it had no ambitions to establish a casino site on the Philippine holiday island of Boracay.
“At the moment, we have no imminent plans to develop the 24-hectare [59.3-acre] property in Boracay into an integrated resort because we are still focused on executing our digital transformation strategies, which provide us with a higher margin,” DigiPlus president Andy Tsui said in an online briefing last week, as quoted by Business World.
DigiPlus, formerly known as Leisure & Resorts World Corp, had been tied to a Boracay casino resort development proposal until October 2023.
Mr Tsui was also quoted as claiming that DigiPlus has 40 million registered users on its platform. “At the end of the third quarter, the monthly active user count was approximately 4.5 million.” We’re expanding compared to the end of 2023, when we had around 2 million active members,” he remarked.
Last week, DigiPlus also stated that there are “no definitive plans at this time” to buy CasinoPlus, an online gaming operator regulated by the Philippine Amusement and Gaming Corp (Pagcor). CasinoPlus has a gambling license for its under-renovation integrated resort, the Hotel Stotsenberg and Casino in Clark, two hours north of Manila.
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