Malaysia’s Genting group is among investors that raised US$100 million for financial technology (fintech) firm Sightline Payments LLC, for tasks including the latter acquiring casino mobile application developer JOINGO LLC.
The suitor firm and the target are both Las Vegas, Nevada-based companies in the United States.
Sightline Payments is a specialist in digital payment technology for the sports betting and casino markets, as well as for the entertainment and hospitality industries. JOINGO is said to supply mobile digital technology to more than 100 casino operators across North America.
The acquisition of JOINGO by Sightline Payments would enable the latter 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 personalisation for customers,” and increase visitor volume and customer-loyalty at properties, said Wednesday’s press release from Sightline Payments.
It also mentioned that on April 1 the firm had announced completion of the US$100-million funding round.
The acquisition of JOINGO “positions Sightline to provide a more robust digital payments experience in casinos,” Joe Pappano, chief executive of Sightline Payments, was cited as saying in the press release.
Established in 2009 with the vision that mobile marketing will be the future of the casino gaming industry, Joingo’s founders understood that traditional means of casino marketing, such as direct mail and email, were not the right mediums to fully engage patrons with both an interactive and personalized experience.
Joingo built a leading-edge mobile engagement platform with patented technology to target players’ mobile devices using the latest in applications, location-based marketing, gamification and integration services.
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