Sightline completes funding round following J.P. Morgan investment

Sightline Payments has completed its latest round of funding after J.P. Morgan Payments offered a strategic investment. 

The deal will see Sightline work with J.P. Morgan Payments to develop an integrated omnichannel solution for resort and online gaming companies, serving the resort, entertainment and lodging ecosystem.

Sightline’s Co-Founder and Co-CEO, Omer Sattar, explained: “A gaming patron’s money should be safe, secure, and should follow that patron effortlessly through their digital and brick & mortar lifecycle. 

“We are confident that a strategic relationship with J.P. Morgan Payments will allow us to deliver a unique mobile user experience for those gaming industry patrons and power the digital transformation for gaming operators.”

Sightline’s flagship Play+ product enables consumers to safely access gaming and entertainment in nearly every regulated digital gaming company in the United States. In 2021, Sightline expanded its offering to support cashless gaming at casinos with launches at Boyd Gaming and Resorts World Las Vegas.

Sanjay Saraf, Head of eCommerce and Marketplaces at J.P. Morgan Payments, commented: “We believe that industry-specific contextual software is critical to powering any payments ecosystem to create a unique, engaging consumer experience and also to transform the revenue potential for merchants. 

“This investment serves as one part of a multi-channel payments strategy J.P. Morgan Payments will be launching in the gaming and resort space in the coming months. Maintaining a safe gaming industry is a priority for us, and Sightline has created an impressive software platform highly tailored to the needs of the gaming and resort ecosystem. 

“We are excited to work with Sightline to unlock the digitisation potential in enabling highly contextualised payments for the gaming and resort industry.”

Earlier this year, J.P. Morgan Payments announced it would become the primary merchant acquirer for Sightline’s Play+ ecosystem.

This investment round is Sightline’s first in 2022. It follows two funding rounds in 2021, which were led by William Foley’s Cannae Holdings and Searchlight Capital Partners.