Under the investment agreement, Sightline will collaborate with JP Morgan Payments to develop an integrated omnichannel solution for resort and online gambling companies in the resort, entertainment, and lodging industry. Sightline’s flagship product, Play+, enables consumers to gamble online with licensed online gambling operators in the US. It has also expanded to support cashless gaming at land-based casinos, with successful implementation at Boyd Gaming and Resorts World Las Vegas. Play+ offers players access to funds from any location and rewards their spending through loyalty programs with over 80 partners in 40 states, spanning sports betting, lottery, horse racing, and online and land-based casinos.
Sightline’s co-founder and co-chief executive, Omer Sattar, emphasized the importance of keeping gaming patrons’ money safe and secure, seamlessly transitioning between their digital and physical experiences. He expressed confidence in the strategic relationship with JP Morgan Payments, which will enable the delivery of a unique mobile user experience for gaming industry patrons and facilitate digital transformation for gaming operators.
Sanjay Saraf, head of ecommerce and marketplaces at JP Morgan Payments, highlighted the significance of industry-specific contextual software in powering payments ecosystems and creating engaging consumer experiences. He also emphasized the investment’s role in launching a multi-channel payments strategy for the gaming and resort sector. JP Morgan Payments prioritizes maintaining a safe gaming industry and recognizes Sightline’s impressive software platform tailored to the needs of the gaming and resort ecosystem.
This investment marks Sightline’s first in 2022, following two successful funding rounds in 2021. The previous funding round, led by Cannae Holdings, raised $244 million, resulting in Sightline’s total valuation surpassing $1 billion.
