Sightline Marks 15-Year Milestone, Finalizes Recapitalization Procedure
Changing the Game with Groundbreaking Payments
Hey there! Here's the lowdown on Sightline Payments, a company blowing minds with its innovative financial tech solutions, mainly in the gaming industry.
Recently, Sightline announced its 15-year run and the completion of a recapitalization. According to the folks at Sightline, this facelift will empower them to shake up the gaming world with epic financial tech solutions.
Through the recapitalization, most major investors stuck around, including Cannae Holdings, NRT Technology, Genting, Founding Investor Walter Kortschak, co-founders Harry Hagerty and Diran Kludjian, and Point Break Capital Management.
"With the gaming world shifting gears, Sightline's all about payments innovation," said Sightline Co-founder and CEO, Omer Sattar. "This move allows us to keep leveling up our 15-year legacy, and I'm stoked to bring some fintech finesses to gaming. A big thanks to all our investors for their unwavering faith in Sightline and our partners - they're the real MVPs."
The rejiggered Sightline board of directors will see NRT Founder and CEO John Dominelli and NRT President Michael Dominelli joining the action.
"John and Michael's appointment to the Sightline board takes our game to the next level," Sattar beamed. "As industry heavyweights at NRT Technology, John and Michael bring tonnes of expertise and leadership that'll spark innovation and growth. The duo's board presence underlines our commitment to shared success and reflects the trust both companies and our shareholders have in this team-up."
Over its 15-year tenure, Sightline's been makes waves in gaming, supporting the first online gaming transactions in New Jersey in 2013, the first mobile sports betting payment transactions in Nevada in 2014, the first floor-wide cashless gaming at a tribal casino in 2015, and the first cashless casino transactions in Nevada in 2021.
Sightline supports over 70 partners across the casino, digital, horse racing, and lottery industries in 44 states.
Incoming Sightline Executive Chairman and Founder, John Dominelli, who's currently CEO at NRT Technology, is hyped about this new organizational focus: "I've watched Sightline grow from the get-go, and I can tell you firsthand - this team's got the goods. With this new direction, Sightline can roll out the next generation of payment innovation tools for the gaming world."
Walter Kortschak, a senior advisor at Summit Partners and longtime Sightline investor and board member, shares the excitement: "For over a decade, Sightline's been the payment pioneer in the gaming sector, steadily pushing the boundaries of innovative solutions." He adds, "The gaming industry is ripe for game-changing payment solutions, and with the same visionary approach that launched Sightline into the game over a decade ago, I can't see anything standing in their way."
While specific recent innovations from Sightline in the gaming field aren't detailed in current sources, the company's been recognized with awards like the 2023 Payment Innovation of the Year (Silver) and the 2022 Payment Solution of the Year[1]. This suggests that Sightline continues to develop cutting-edge payment tech, but the deets on recent gaming industry innovations are still a mystery.
Meanwhile, broader fintech innovations, like Pay by Bank (instant payments powered by open banking) and the rise of embedded finance, are shaking up the financial world and may indirectly influence payment methods and financial services in gaming[2][3]. Keep an eye on that space!
Sightline Payments, following their recapitalization, plans to employ technology in developing groundbreaking financial solutions for the gaming industry, merging finance and technology in an innovative manner. John Dominelli, an incoming Sightline Executive Chairman, believes this new direction will enable Sightline to roll out the next generation of payment innovation tools in the gaming sector, further cementing their position as a payment pioneer.
