DigiPlus eyes strategic partner for Brazil foray

February 7, 2025 | 12:00am

MANILA, Philippines — Digital entertainment company DigiPlus Interactive Corp. is scouting for a strategic partner in Brazil to further boost its foray into the country’s gaming market.

DigiPlus chairman Eusebio Tanco said the company is open to having a local partner for its Brazil venture to provide expertise in the market.

“I think we have sufficient resources, but maybe as a strategic partner,” Tanco said.

DigiPlus subsidiary DigiPlus Brazil Interactive Ltda. has been granted definitive authority by the Brazil government to operate sports betting and other online games in the country.

Brazil represents a significant growth opportunity for DigiPlus with a population exceeding 200 million and great enthusiasm for sports betting.

DigiPlus has tapped a Brazilian bank to help the company in finding a strategic partner.

“The team is still on the search, like looking at different companies there. So we have an investment banker actually helping us. It’s a local Brazilian bank,” DigiPlus vice president for investor relations Celeste Jovenir said.

So far, Jovenir said the company has filled up the management team that will be responsible for the company’s Brazil operation.

However, she said that DigiPlus is still finalizing the full plan for the Brazil venture, which will serve as the company’s maiden international foray.

DigiPlus earlier secured board approval for the funding of P660 million to pay for the Brazil gaming license fees, minimum capitalization, financial reserves and other operational expenses.

The initial funding is intended for a three-month horizon.

DigiPlus is the company behind digital entertainment platforms BingoPlus, ArenaPlus and GameZone.