Investment of Up to $300 Million Will Enable Cashless at 1/3 of All U.S. Slot Machines
LAS VEGAS–(BUSINESS WIRE)–Sightline Payments today announced an investment of up to $300 million to implement cashless gaming at slot machines across the United States, in collaboration with Acres Manufacturing Company (“Acres”). The objective of Project 250 is to facilitate digital payments technology at 250,000 slot machines across the country within 36 months.
Project 250 will allow gaming operators to upgrade existing slot machines via Acres’ Foundation™, offering cashless to their patrons in as little as 16 weeks.
Sightline’s Mobile+ ecosystem provides for a seamless integration with the operator’s entire casino resort and loyalty program while Sightline’s Play+ digital payments solution rounds out the cashless experience, currently live with all four major casino management systems in the US.
For any payments innovation to accelerate having an infrastructure base layer of technology is critical to gaining widespread consumer adoption. To date, casinos in only 10 of the 44 states that offer gaming have launched cashless for their customers. A significant hurdle towards more casinos adopting cashless is outdated technology that is costly to upgrade. This type of experience was seen around adoption of the EMV chip and contactless technology at point-of-sale devices in retail stores around the country. Once retailers invested in new technology, customers quickly saw the safety and speed benefits of these devices.
By investing in infrastructure upgrades for its casino partners, Sightline will accelerate the shift toward cashless gaming, giving millions of gaming patrons the ability to utilize the safety and security of digital payments in casinos nationwide.
“It’s the hardware and associated capital expenditures that’s often the impediment to the large-scale deployment of cashless payments for gaming operators,” said Omer Sattar, Sightline Co-CEO. “This investment by Sightline through the creation of Project 250 will immensely impact the gaming landscape for decades to come. Ubiquity of availability is often critical in broad scale consumer adoption, especially in payments and this investment will drive the whole industry towards the apex of the adoption inflection curve.”
“We pride ourselves on our ability to provide operators with a scalable option to offer easy-to-implement cashless gaming,” said Noah Acres of Acres Manufacturing Company. “Cashless gaming is a great way for casino operators of all sizes to optimize customer relationships and drive enhanced profitability.”
Sightline will be available to answer questions about Project 250 at the Sightline Payments Booth 4433 during the Global Gaming Expo (G2E) from October 11-13 at the Venetian Expo Center in Las Vegas, NV.
About Sightline Payments
Sightline Payments is the U.S. sports betting and casino gaming market’s leading digital payments provider and mobile app developer. Sightline leverages cutting-edge technology to apply modern solutions to a traditionally cash-based industry projected to grow to more than $150 billion in the next few years. Sightline’s suite of mobile solutions gives consumers a safe, secure, and responsible way to fund their online and in-person gaming activities and enables casinos to offer cashless wagering and personalized loyalty options across the entire property. With more than 1.5 million Play+ accounts, 3 million mobile loyalty platform downloads, and 80+ partners across the sports betting, lottery, racing, and online and brick-and-mortar casino markets, Sightline is uniquely positioned to transform the traditional gaming landscape. Learn more at SightlinePayments.com.
Acres is a leading casino loyalty and technology expert and the creator of Foundation™, the first-of-its-kind casino management system. Foundation provides casinos with real-time data from slot machines and a direct interface to the credit meter on any slot machine. Acres was founded by John Acres, the inventor of casino systems technology. For more information on Acres and Foundation, visit acresmanufacturing.com.