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Sightline Payments Announces $1 Billion+ Valuation

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Sightline Payments Announces $1 Billion+ Valuation

 

Sightline Payments announced the completion of a $244 million round valuing the company at over $1 billion. With this capital raise, Sightline becomes Nevada’s first fintech unicorn—one of roughly 700 startups worldwide to ever earn a $1 billion+ valuation as a private company.

In addition to Cannae Holdings, this funding round included existing investors Genting Group, Point Break Capital Management, and founding investor Walter Kortschak.

Gaming is one of America’s last cash-centric businesses, with hundreds of billions of dollars running through casinos annually. Sightline Payments was founded over a decade ago by Omer SattarTom Sears, and Kirk Sanford to give consumers a way to safely and securely fund their online gaming experience, starting with New Jersey’s launch of online gaming in 2013. Sightline has helped power the exponential growth of sports betting after the Supreme Court overturned the Federal ban in 2018 and continues to lead the industry in innovation by launching cashless gaming in brick-and-mortar casinos.

“Sightline has continuously risen to meet the changing needs of the casino gaming industry. As we strive to help lead the digital transformation of the patron experience in our vertical, we are humbled to become Nevada’s first FinTech unicorn,” said Sightline Co-founder Omer Sattar. “Financial Services has historically not embraced the legal, regulated gaming industry, but thanks to the innovations Sightline has fostered in the market, gaming is clearly poised for an omni-channel cashless revolution.”

“After seeing Sightline’s groundbreaking technology firsthand at the recent launch of Resorts World Las Vegas, I am more bullish than ever about Sightline’s ability to be at the forefront of the digital transformation afoot in the North American gaming, sports, and entertainment ecosystem,” said Cannae Holdings Chairman William P. Foley II. “I look forward to helping Sightline continue their tremendous growth.”

“The Sightline team has reached new heights to provide innovative solutions to drive our industry forward,” said Sightline CEO Joe Pappano. “Our investors’ continued faith in our business will enable us to execute our vision of transforming payments in the casino gaming and hospitality industry.”

This $244 million round is Sightline’s second round in 2021. Sightline closed an earlier $100 million funding round in April, which also included an investment by Searchlight Capital Partners. Building upon Sightline’s growth in the gaming and hospitality sectors, Sightline recently acquired JOINGO, the casino gaming industry’s top mobile engagement and loyalty platform.

Latham & Watkins LLP served as legal counsel to Sightline in connection with the round, with a team led by M&A partner David Beller.

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Zimpler Becomes Certified Payment Institution in Brazil, Strengthens Local Open Finance Ecosystem

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Zimpler Becomes Certified Payment Institution in Brazil, Strengthens Local Open Finance Ecosystem

 

Zimpler, a leading Swedish company in Pay-by-bank solutions, has become a certified Payment Institution (PI) in Brazil, authorized by the Central Bank. Now Zimpler is allowed to facilitate payments and other Open Finance ecosystem resources, streamlining the checkout process and reducing friction by allowing direct transactions without redirecting users to bank apps. This movement solidifies Zimpler’s plans and structure in Brazil.

“We are thrilled to receive this authorization from the Brazilian Central Bank. The recognition of Zimpler as a payment initiator reinforces our commitment to this local market, which offers a great opportunity for growth and value in a very dynamic and competitive environment,” said Johan Strand, CEO of Zimpler.

The authorization, which also allows Zimpler to act as an electronic money institution, strengthens the Open Finance ecosystem in Brazil, one of the most advanced in the world and which now welcomes the leading payments fintech from Sweden. Businesses looking to thrive in the country can now benefit from the Zimpler’s seamless payment experience, giving them a competitive edge in a dynamic and fast-moving market.

“This milestone showcases the strength of Swedish innovation and the mutual benefits that come from closer economic collaboration between Sweden and Brazil. Sweden has long been a leader in financial technology, and we are proud to see companies like Zimpler bring their experience and trusted solutions to contribute to Brazil’s dynamic digital economy,” said Andreas Rentner, Trade Commissioner and Country Manager of Business Sweden in Brazil.

“With our experience powering over 80% of Sweden’s population through Swish, we’re bringing the same proven technology and approach to Brazil through Pix, one of the most successful real-time payment systems in the world. We’re looking forward to helping businesses unlock the full potential of Open Finance in Brazil with seamless, secure payments that drive market growth,” Strand said.

The authorization by the Central Bank is another step in strengthening Zimpler’s foundation in Brazil, following the opening of its São Paulo office in 2022. The company remains focused on expanding its footprint and deepening its partnerships across key verticals such as iGaming, where it sees strong growth potential.

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AGS Interactive Makes Market Debut in Connecticut

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AGS Interactive Makes Market Debut in Connecticut

 

AGS Interactive has made its market debut in Connecticut, taking a selection of its best-performing games live in the Constitution State.

Local players in Connecticut can now enjoy three of AGS’ hit titles, with Capital Gains, Blazing Luck, and Dragon Fa initially available, all proven with both land-based and online players across North America.

AGS plans to roll out its full interactive portfolio, ensuring a steady cadence of new content for operators and players alike.

The launch represents AGS’ sixth regulated US market entry, further extending its footprint across the country and cementing its position as a supplier of beloved land-based classics with cunning interactive forward games.

Zoe Ebling, VP of Interactive at AGS, said: “Entering Connecticut is a huge milestone for us. It’s not just another market, it’s a testament to the momentum our interactive division has built across the US.

“By bringing Capital Gains, Blazing Luck, and Dragon Fa to Connecticut players, we’re giving them a taste of our best-in-class titles right out of the gate. Every new state launch is a fresh opportunity to show operators that AGS doesn’t just deliver games, we deliver experiences that resonate. We’ve seen firsthand how our land-based hits translate online, and we’re excited to roll out even more content throughout the year.”

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NFL Announces Partnership with ICRG

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NFL Announces Partnership with ICRG

 

The National Football League (NFL) announced a partnership with the International Center for Responsible Gaming (ICRG) to address growing concerns around gambling behaviors among college athletes and students. The NFL Foundation will contribute $600,000 over three years to support independent, peer-reviewed research being led by the ICRG that aims to explore the prevalence, risk factors, and impacts of gambling behaviors in these populations.

While initial studies have indicated that college athletes may be at higher risk for gambling problems, there remains a lack of comprehensive, current data on how college populations interact with online sports betting platforms. This NFL-ICRG initiative will empower independent researchers to explore a wide range of topics with the goal of informing data-driven prevention strategies, education, and policies aimed at reducing gambling-related harm. Grant applications will be peer-reviewed prior to the selection of the final recipient by the ICRG Independent Scientific Advisory Board.

Additionally, the NFL will fund an update to the ICRG’s “Talking with Children About Gambling” educational resources to equip parents, coaches, and educators with practical guidance to help prevent youth gambling exposure before college. Educational materials will be widely available online and distributed to schools, community sports organizations, and youth programs nationwide.

“We’re proud to partner with the ICRG to advance research that can drive meaningful solutions and address a critical gap in the understanding of gambling behaviors among college athletes and students. This initiative reflects our ongoing commitment to promoting responsible gambling and fostering a safe and supportive environment for athletes, fans, and communities,” said Anna Isaacson, NFL senior vice president of social responsibility.

“The NFL has once again demonstrated its commitment to player and fan protection by supporting this critical research targeting young adults. The NFL and ICRG together will make a meaningful contribution to understanding and implementing policies and programs that support a safer gambling environment,” said Arthur Paikowsky, president of ICRG.

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