Slightline is aiming to unlock approximately $5bn in capital across the US land-based casino ecosystem through what the company has billed as a “groundbreaking new tool”.
The fintech firm is looking to ‘revolutionise the way casinos view their entire slot floor’ through the introduction of Deposit+. This intends to permit gaming establishments to access idle cash in slot machines and TITO kiosks.
The solution comes with zero hardware or software requirements, and whatever money is left in a casino’s slot machines or TITO kiosks can be in the bank and ready for re-investment on a daily basis.
“There is an estimated $3bn in slot cash and another $2bn in TITO that is waiting to be reinvested in the US casino industry,” noted Omer Sattar, CEO of Sightline.
“Deposit+ gives operators access to that cash, freeing up stuck capital, maximising cash flow, and putting the entire industry in a powerful reinvestment position.”
In addition to reducing labour expenses by ensuring that casinos are no longer tied to drop schedules, Sightline also noted that operators could also earn daily provisional credit across slot devices, reduce outstanding debt, and make additional investment without accruing additional debt.
“For decades, casino operators of all sizes have been stymied in their search for a way to make use of cash that is stuck in slot machines prior to a drop,” stated Tom Pierro, SVP, Product Management.
“Until today, that cash and its potential has remained untapped. Now, we are thrilled to introduce Deposit+ and add another powerful tool to operators’ revenue capabilities.”
The solution works with the casinos’ existing CMS, and the daily currency report triggers an advanced deposit through Sightline’s system.
“At Sightline, our banking and development experts are continually innovating for our casino partners, helping them maximise their opportunities,” added Kirk Olson, SVP of Sales.
“Now with Deposit+, operators finally have the solution they have been waiting for, giving them access to their cash, freeing them to pay down debt more rapidly and to make investments without accruing additional debt.”