DigiPlus 'exploring opportunities' in Brazil
DigiPlus [PLUS 20.10, up 5.2%; 89% avgVol] [link] put out a press release to say that it is “exploring opportunities” in Brazil’s digital gaming space “following the recent legalization of gaming and betting activities in the country.” As PLUS points out, Brazil has a population of over 200 million with 87% internet penetration. For comparison, the Philippines has a population of approximately 110 million with an internet penetration of 53% (2021). PLUS said that it has applied to Brazil’s PAGCOR equivalent for a federal license, and expects to hear back on the success of its application by November of this year. The company said that it is looking to “diversify its portfolio into new markets”, but that it “envisions the Philippines to remain its core market.”