NRT Technology Corp., a leading provider of integrated ticket redemption and payment services to global casino operators; and Sightline Payments, developer of the disruptive Play+ platform that’s powering the next generation of cashless and mobile gaming payment solutions; announced an agreement to merge.
The company on closing will be named NRT Sightline, and will form one of the largest pure-play gaming payment technology companies in the world with an equity value of over $300 million.
Following the closing of the transaction and subject to regulatory approvals, Sightline’s CEO and founder, Kirk Sanford, will assume the role of president and CEO of NRT Sightline. NRT’s founder, president and CEO, John Dominelli, will become chairman of NRT Sightline and will remain active in leading the overall company strategy with a focus on driving the technology roadmap.
“Sightline is a perfect fit with NRT,” said Dominelli. “Kirk Sanford and his team add complementary talent and technology that we believe will help accelerate NRT’s global leadership in casino payments. Together, we expect that NRT and Sightline also will accelerate our leadership in delivering innovative solutions for next-generation commerce, mobile, and big data.”
Sightline’s cloud-based Play+ payment platform powers industry innovators such as Caesars, MGM Resorts International, Mohegan Sun, Station Casinos, Golden Nugget, William Hill, PokerStars and BetFair, which are creating compelling new consumer experiences and disrupting traditional cash-based ecosystem models.
“Sightline’s growth has skyrocketed over the past several years,” said Sanford, “and the alignment with NRT will continue to push the boundaries of innovation while expanding its customer base with increased speed and support from the extensive resources of the NRT infrastructure. John and I have a shared vision for the global gaming industry, which we intend to rapidly transform with many technological advancements that we already have in the works.”
Play+, Sightline’s award winning technology, gives patrons a convenient and cost-effective alternative to obtaining cash from current methods by allowing them to pay for their gaming experience using only their mobile devices or directly at gaming devices and POS using only their casino loyalty card. NRT already has a strong presence in gaming with payment volumes of more than $15 billion a year.
