Cirsa rules out imminent entry into Brazil’s gaming market
However, launching in adjacent markets is not yet off the table.
Key Points
- Lack of operator licensing influenced the company’s decision to rule out coming into this market
- Cirsa has an IPO prospectus set for July 9
Cirsa has ruled out entering the Brazilian gaming market, according to a CincoDias report. The company has excluded the country from its potential markets ahead of its IPO prospectus next week.
The casino cited that “most operators” lack of licensing played a role in why it has ruled out entering Brazil.
The Spanish company said in a statement, “Despite being formally regulated since January 1, the market is currently stabilizing and most of its players continue to operate without licenses.”
However, Cirsa has not made an official decision on whether it could enter markets close to Brazil, including the Bahamas, Chile, Jamaica and Uruguay, the local report said.
Cirsa said, “As of the date of publication of this prospectus, we have not made any formal decisions or developed any specific plans to enter any of these adjacent markets.”
But not every group has taken this approach to the Brazilian market.
DigiPlus Interactive Corp. has been preparing to bring its content to the region throughout the year and recently installed an operations manager in anticipation of the launch.
DigiPlus recently announced plans to launch its Brazil operations in September and said the company is on task for this move. The company hopes this initiative will be an opportunity for new sources of growth and “unlock a gaming market twice the size of the Philippines.”
The company said in a statement, “This milestone is part of DigiPlus’ strategy to expand its market leadership beyond Southeast Asia by combining secure technology, highly immersive games, and an unwavering commitment to safe, fair, and responsible digital entertainment.
“A dedicated local team with deep cultural and regulatory knowledge is already in place in Brazil, ensuring that DigiPlus Brazil delivers not just popular global games, but also high-quality local experiences and responsible gaming. In March, DigiPlus appointed industry specialist Graham Tidey as country manager for its Brazil operations.”
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