Philippines gaming technology firm DigiPlus Interactive Corp is on the lookout for a local partner to help drive its Brazil iGaming strategy, the company has revealed.
As reported by Inside Asian Gaming, DigiPlus was recently granted by the Brazilian government a Definitive Authority to operate sports betting and other online games in Brazil, one of a handful of firms to receive such regulatory approval.
However, while the company is well resourced and has set aside P660 million (US$11.4 million) for its Brazilian expansion, its Chairman Eusebio Tanco this week outlined plans to work with a partner who better understands the local business environment.
“It’s better to have a local partner,” said Tanco in an interview with InsiderPH. “It’s not so much for funding. I think we have sufficient resources.”
DigiPlus went on to explain that it has not yet identified a partner but has an investment bank helping with the search.
Tanco previously outlined his confidence in the company becoming successful in Brazil.
“We remain confident in our ability to align with Brazil’s regulatory requirements and introduce world-class gaming experiences to this dynamic market,” he said earlier this year. “This underscores our dedication to expanding into a new region while maintaining our focus on the Philippines as our core market.”
DigiPlus is known in the Philippines for its BingoPlus and ArenaPlus platforms, among others.
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