The move positions DigiPlus, known for its BingoPlus and ArenaPlus gambling platforms, in a massive, fast-growing gaming market worth an estimated $4.6 billion. Brazil’s population of over 200 million and 90 percent internet penetration make it a promising launchpad.
The firm was previously planning to launch Brazil operations in the fourth quarter of 2025.
Stock market impact
DigiPlus shares fell as much as 9.2 percent on Wednesday, paring losses to 8 percent by the noontime break at P46 per share after the update on Brazil.
The stock is down nearly 30 percent from its recent high of P65.3 per share last June 11 as lawmakers move to curb online gaming. Nevertheless, its share price is still up about 238 percent over the last 12 months thanks to surging gaming earnings.
Management’s view
“We are excited to bring world-class entertainment to new markets, bringing the strengths and expertise that we have established in the Philippines,” DigiPlus chair Eusebio Tanco said in a stock exchange filing on Wednesday.
“Our entry into Brazil is part of our strategic expansion program to usher DigiPlus’ next phase of growth,” Tanco added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
