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JPMorgan invests in Sightline Payments

Sightline Payments has revealed it has received a strategic investment from JPMorgan.

Sightline Payments has revealed it has received a strategic investment from JPMorgan.


The agreement will see JP Morgan work with Sightline to build a new omnichannel solution for resort and online gaming companies.


Sightline Co-founder and Co-CEO Omer Sattar said of the new investment: “A gaming patron’s money should be safe, secure, and should follow that patron effortlessly through their digital and brick & mortar lifecycle.


"We are confident that a strategic relationship with JPMorgan Payments will allow us to deliver a unique mobile user experience for those gaming industry patrons and power the digital transformation for gaming operators.”


Meanwhile, Sanjay Saraf, Head of eCommerce and Marketplaces at JPMorgan Payments, added: “We believe that industry-specific contextual software is critical to powering any payments ecosystem to create a unique, engaging consumer experience and also to transform the revenue potential for merchants.


"This investment serves as one part of a multi-channel payments strategy JPMorgan Payments will be launching in the gaming and resort space in the coming months."


JPMorgan Payments became the primary merchant acquirer for Sightline’s flagship Pay+ product, which supports cashless gaming in casinos, and has launched with Boyd Gaming and Resorts World Las Vegas.


In 2021, Sightline opted for two funding rounds, which were led by Searchlight Capital Partners and William Foley’s Cannae Holdings.


Earlier this month, Sightline Payments announced an investment of up to $300m to implement cashless gaming at slot machines across the US in partnership with Acres Manufacturing Company.

Source: https://www.gamblinginsider.com/

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