{"id":329099,"date":"2024-08-20T23:27:44","date_gmt":"2024-08-20T15:27:44","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329099"},"modified":"2024-08-20T23:27:46","modified_gmt":"2024-08-20T15:27:46","slug":"trade-the-news-digiplus-targets-expansion-into-brazil","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-digiplus-targets-expansion-into-brazil\/","title":{"rendered":"Trade the News: DigiPlus (PLUS) targets expansion into Brazil\u2019s digital gaming sector"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>DigiPlus Interactive Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>PLUS<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 22.37<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

DigiPlus Interactive Corp. (PLUS) is targeting an expansion into Brazil\u2019s digital gaming sector, citing the recent legalization of betting activities in the country.<\/p>\n\n\n\n

The company\u2019s subsidiary, DigiPlus Brazil Interactive Ltda., expects the result of its license application filed in Brazil to be issued on or before the end of November, DigiPlus said in a regulatory filing on Monday.<\/p>\n\n\n\n

On Aug. 18, DigiPlus Brazil applied for a Licen\u00e7a Para Loterias De Apostas De Quota Fixa, a federal license that allows the operation of land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities in Brazil.<\/p>\n\n\n\n

\u201cDigiPlus is exploring opportunities in Brazil\u2019s iGaming market following the recent legalization of gaming and betting activities in the country,\u201d the company said.<\/p>\n\n\n\n

\u201cCurrently in its preliminary stages, DigiPlus is looking to diversify its portfolio into new markets with an enabling regulatory environment for iGaming,\u201d it added.<\/p>\n\n\n\n

Last year, Brazil passed legislation that formed a regulatory framework for its online betting market, which included a condition that operators should have a Brazilian partner with at least a 20% stake in the business.<\/p>\n\n\n\n

\u201cDigiPlus recognizes Brazil\u2019s strong potential as one of the fastest-growing gaming markets in Latin America. The country has a population of over 200 million, with internet penetration at 87%,\u201d the company said.<\/p>\n\n\n\n

Despite the planned expansion, DigiPlus said it envisions the Philippines to remain its \u201ccore market.\u201d<\/p>\n\n\n\n

For the first half, Digi-Plus saw a 377% increase in its net income to P5.2 billion from P1.1 billion last year as revenues surged by 263% to P32.5 billion from P8.9 billion a year ago.<\/p>\n\n\n\n

The listed gaming group attributed the growth to higher user traffic and fresh contributions from new game offerings.<\/p>\n\n\n\n

(News Source: BusinessWorld<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329099","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329099"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329099\/revisions"}],"predecessor-version":[{"id":329101,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329099\/revisions\/329101"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}