DigiPlus qualifies for Brazil online gambling licence
The Philippine company said its Brazilian subsidiary has passed the qualification stage for a federal licence.
Brazil.- DigiPlus has announced that its Brazilian subsidiary, DigiPlus Brazil Interactive, has passed the qualification stage to gain a licence to enter Brazil’s federal regulated online gambling market, which launches on January 1.
DigiPlus now has 30 days to meet post-qualification regulatory requirements, including platform certification and payment of the licence fees. The regulator, the SPA, is expected to publish a full list of authorised operators by the end of December. Many are already operating.
Eusebio Tanco, DigiPlus chairman, said: “We are committed to bringing DigiPlus’ expertise in responsible and innovative gaming to Brazil. 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 world-class gaming experiences to this dynamic market. This underscores our dedication to expanding into a new region while maintaining our focus on the Philippines as our core market.”
DigiPlus posted a net income of PHP8.85bn (US$159.3m) for the first nine months of the year. That’s a rise of 314 per cent when compared to last year. The company attributed the growth to the performance of its digital retail segment combined with the introduction of new product offerings and cost efficiencies.
Revenue was up 223 per cent in year-on-year terms to PHP15.98bn (US$287.64m). EBITDA was up 271 per cent to PHP9.34bn (US$168.12m).
For the third quarter, DigiPlus posted net income of PHP3.52bn (US$63.36m), up 247 per cent in year-on-year terms. Revenue was up 171 per cent year-on-year to PHP19bn (US$342m), mainly due to higher user traffic and new game offerings. EBITDA rose 206 per cent year-on-year to PHP3.83bn (US$68.94m).
See also: DigiPlus launches responsible gaming campaign in the Philippines
DigiPlus says no definitive plan to acquire CasinoPlus
In other news, DigiPlus said it has no definite plans to purchase the online gaming provider CasinoPlus. “Acquisitions have always been in the Company’s plan as part of its strategic expansion. However, there are no definitive plans at this time,” it said.
The statement comes after Bilyonaryo.com reported that the company was looking to buy CasinoPlus in a “mega-deal which could completely change the game for the Philippine online gaming industry”. According to the site, DigiPlus and Casino Plus would have a combined monthly revenue of PHP10bn (US$170.4m). As reported by GGRAsia, CasinoPlus possesses a gaming licence for the integrated resort (IR) Hotel Stotsenberg and Casino in Clark, two hours north of Manila.
