DigiPlus announces plan to expand ops to South Africa
This development was announced by DigiPlus Chairman Eusebio Tanco during the company's annual stockholders meeting in Taguig City.
Eusebio described the digital gaming firm's plan to enter South Africa as the 'next phase of its international growth strategy' to follow its scheduled launch in Brazil this September.
In a disclosure to the Philippine Stock Exchange, DigiPlus said it is preparing to file its license applications with the Western Cape Gambling and Racing Board (WCGRB) — the preferred jurisdiction for local and global operators due to its transparent regulatory processes and digital readiness.
The company added that it will also apply for three licenses, namely National Manufacturer License, Bookmaker License, and Bookmaker Premises License.
Key employee licenses will also be secured to support operational leadership, according to DigiPlus.
'We're applying now, it will take about six months to get the licenses,' Tanco said at a press briefing.
DigiPlus, in its regulatory filing, said the licensing process in South Africa begins with intensive probity checks for both the company and its ultimate beneficial owners (UBOs).
The company added that it is also establishing a local legal entity in South Africa, in line with licensing requirements that allow foreign ownership and directorship.
'We are thrilled to take this next bold step in our international journey,' Tanco said.
'South Africa is not just the largest online gaming market in Africa, it's a gateway to the continent's digital future. As we expand from Southeast Asia to Latin America and now Africa, we remain committed to responsible innovation, local compliance, and developing products that connect deeply with culture and community,' he added.
DigiPlus said the South African online betting industry, valued at $1.6 billion in 2023 and 2024, continues to grow and projected by up to 5% annually, driven by rising mobile use, a digitally engaged population, and robust demand for live sports betting. — BAP, GMA Integrated News
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