Strategic acquisition will enhance Sightline capabilities to provide cashless solutions to casinos
LAS VEGAS, June 09, 2021 (GLOBE NEWSWIRE) — Sightline Payments, a FinTech company specializing in digital payments solutions for the sports betting and casino markets, today announced the acquisition of JOINGO®, the leading mobile engagement and loyalty platform for the casino gaming industry.
JOINGO is the leading provider of mobile engagement solutions serving over 100 casino operators across North America and is the only app solution focused exclusively on the casino gaming industry. JOINGO’s patented mobile loyalty platform allows casino brands to reach their mobile users with highly personalized and interactive mobile marketing campaigns that drive increased reach, loyalty, and revenue.
The acquisition provides Sightline the ability to offer casino customers a turn key cashless gaming solution as well as a broader suite of products to help North American casinos enhance loyalty and personalization for customers, and drive increased visitation and loyalty for properties.
“This acquisition positions Sightline to provide a more robust digital payments experience in casinos,” said Joe Pappano, CEO of Sightline Payments. “We know that enhancing a guest’s mobile experience is the key to cashless gaming adoption in casinos. We welcome JOINGO’s talented team to Sightline to further strengthen our ability to empower the digital transformation of the consumer experience.”
“Joining forces with Sightline gives us access to significant resources and capabilities to accelerate our product development initiatives and deliver the most robust and seamless cashless solution for land-based casinos in the industry,” said Mike McManus, CEO of JOINGO. “JOINGO and Sightline Payments share an impressive roster of common clients in the gaming space and today’s announcement will deliver powerful value-added benefits to those clients, and many others as we move forward.”
The deal will expand Sightline’s well-established, value-added solutions portfolio, strengthening the Company’s focus on offerings that enhance revenue, patron loyalty, and operational efficiencies.
On April 1, 2021, Sightline announced the completion of a $100 million funding round to help build out organizational capabilities including people, systems, technology, and marketing which helped fund this acquisition. Strategic investors participating in the round included Cannae Holdings, Genting Group, Point Break Capital, Searchlight Capital Partners, Shift4 Ventures, Walter Kortschak, and Vectr Ventures.
About Sightline Payments
Sightline Payments (“Sightline” or the “Company”), is a dynamic Financial Technology (FinTech) company that is enabling the next generation of cashless, mobile and omni-channel payment solutions for the gaming, lottery, sports betting, entertainment and hospitality ecosystems. The Company has more than 1.5 million enrolled Play+ accounts across its current portfolio of more than 70 programs in 39 States, and is poised to build on this presence, commensurate with the expansion visible in the underlying markets it serves. One of the key segments the Company serves is online gaming (both sports betting and iGaming), which is expected to build from $3 billion in total revenue to $22 billion over the next five years. In addition, the Company’s digital payment solutions directly address the wider gaming industry’s opportunity to transform traditional gaming floors into cashless ecosystems, a $90 billion revenue market serving over 100 million customers annually. Sightline is based in Las Vegas, Nevada. Learn more at http://sightlinepayments.com.
JOINGO is a leading-edge mobile technology company focused on the gaming industry and based in Las Vegas. JOINGO’s patented mobile loyalty platform allows casino brands to reach their mobile users with highly personalized and interactive mobile marketing campaigns that drive increased reach, loyalty, and revenue. For more, visit https://www.joingo.com.
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