Genting among investors in Sightline Payments US$244M fundraise

Malaysia ringgit notesMalaysia ringgit notes

Sightline Payments, which focuses on digital payments for the casino gaming and sports betting industries, has raised US$244 million, its second funding round this year, reaching a valuation of over US$1 billion, the company said in a press release Tuesday.

Investors in the round include existing investors Malaysia-based Genting Group, which operates Resorts World, Point Break Capital Management, founding investor Walter Kortschak and Cannae Holdings, the statement said.

“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,” Cannae Holdings Chairman William P. Foley II said in the statement.

Omer Sattar, Sightline co-founder, said the company was aiming to digitally transform the customer experience in an industry that remains largely cash-focused.

“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,” Sattar said in the statement.

In April, Sightline also closed a US$100 million funding round, which included an investment from Searchlight Capital Partners.

Other previous investors in the company have included Kortschak Investments, Vectr and Shift4 Ventures, according to Crunchbase data. The company has raised a total of US$347.2 million across five funding rounds with nine investors, the data show.