Sightline Payments has raised $100 million from investors including the Genting Group, Point Break Capital, Searchlight Capital Partners, Shift4 Ventures, and Vectr Ventures, with Bill Foley’s Cannae Holdings serving as the lead investor.
Sightline 100m Play Las Vegas Review
Sightline, headquartered in Las Vegas, is a FinTech payments firm that facilitates cashless, mobile, and omni-channel payment solutions for the regulated gaming markets, including lottery, sports betting, entertainment, and hospitality.
Joe Pappano, CEO of Sightline Payments, has said, “These investments will further enable our efforts to facilitate the digital revolution of the consumer experience and to transform consumers’ finance options inside the gaming sector.”
Sightline will be able to take advantage of the rising popularity of digital payment methods in the gaming, sports betting, horse racing, and lottery industries to a greater extent if it invests in developing its organisational capabilities in areas such as people, systems, technology, and marketing.
Strategic investors in Sightline Payments’ latest round of fundraising include Cannae Holdings and William P. Foley II, the newly appointed Chairman of Paysafe; Genting Group; Point Break Capital; Searchlight Capital Partners; Shift4 Ventures; and Vectr Ventures.
World Class Collection of Investors
Christopher Cruz, Managing Director at Searchlight Capital Partners, expressed his company’s excitement at having “a world class collection of investors with relevant and deep experience in FinTech, gaming, entertainment, and sports” join them.
The proliferation of legalised mobile gaming alternatives in numerous states across the United States over the past 12 months has contributed to a surge in consumer interest in both sports betting and online casinos.
Sightline Payments and other payment processors fueled a 70% increase in the sports betting market and an almost 200% increase in the iGaming market by 2020. Online gambling and sports betting are expected to generate a combined $22 billion by 2026, up from an estimated $3 billion in 2020.
Cashless Digital Payment Technologies
Customers’ and casinos’ interest in cashless digital payment technologies has skyrocketed due to their perceived safety, security, and simplicity within digital gaming channels, leading to phenomenal sales growth for Sightline Payments’ products.
It is estimated that more than 100 million people in the United States visit casinos each year, contributing $90 billion to the economy.
Sightline’s Play+ is the company’s premier pay-and-play service, with over 1.5 million active users. Play+ is the most popular cashless mechanism for users to save money securely and quickly access it to support their leisure needs on the internet, in physical casinos, and on sports betting platforms.
The increasing need for omni-channel digital payments and cashless integration has made the Play+ ecosystem invaluable to operators and customers.
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