{"id":331384,"date":"2025-02-05T23:25:53","date_gmt":"2025-02-05T15:25:53","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331384"},"modified":"2025-02-05T23:25:56","modified_gmt":"2025-02-05T15:25:56","slug":"trade-the-news-plus-explores-possibility-of-teaming-up-with-local-partner-in-brazil","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-plus-explores-possibility-of-teaming-up-with-local-partner-in-brazil\/","title":{"rendered":"Trade the News: PLUS explores possibility of teaming up with local partner in Brazil"},"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>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 28.85<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

DIGIPLUS Interactive Corp. (PLUS) is exploring the possibility of teaming up with a local partner in Brazil to support the company\u2019s expansion.<\/p>\n\n\n\n

\u201cWe\u2019re always exploring possibilities. It\u2019s better to have a local partner,\u201d DigiPlus Chairman Eusebio H. Tanco said at a recent media briefing.<\/p>\n\n\n\n

\u201cIt is not so much about the funding. We have sufficient resources, maybe more of a strategic partner,\u201d he added.<\/p>\n\n\n\n

Mr. Tanco also confirmed that the company\u2019s operations in Brazil will begin with sports betting, which could go live \u201cprobably towards the end of the year.\u201d<\/p>\n\n\n\n

\u201cWe\u2019ll start with sports first. They love football there. We\u2019ll test the market first,\u201d he said.<\/p>\n\n\n\n

DigiPlus Vice-President for Investor Relations Celeste M. Jovenir said that the company has engaged a local Brazilian investment bank to search for potential partners.<\/p>\n\n\n\n

\u201cWe haven\u2019t identified anyone yet. The team is still searching and looking at different companies there. We have an investment banker in Brazil helping us. It\u2019s a local Brazilian investment bank,\u201d she said.<\/p>\n\n\n\n

\u201cThe senior management is interviewing people from Brazil to form the team. Actually, we already have a team of ten people there since last year to apply for the license,\u201d she added.<\/p>\n\n\n\n

Last month, DigiPlus announced that its subsidiary DigiPlus Brazil Interactive Ltda. secured a gaming license from the Brazilian Ministry of Finance\u2019s Secretariat of Awards and Bets.<\/p>\n\n\n\n

With the gaming license, DigiPlus is now authorized to conduct land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities in Brazil.<\/p>\n\n\n\n

The company has initially earmarked P660 million to cover the license fees, minimum capitalization, financial reserves, and other operational expenses for the first three months of its operations in Brazil. It will use the ArenaPlus online sports betting platform for the Brazilian expansion.<\/p>\n\n\n\n

(News Source: Business World<\/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-331384","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\/331384","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=331384"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331384\/revisions"}],"predecessor-version":[{"id":331386,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331384\/revisions\/331386"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}