Toronto, Canada-based NRT Technology Corp, a provider of ticket redemption and payment technology and services to global casino operators, says it has agreed to merge with Las Vegas, Nevada-based Sightline Payments LLC, a technology business specialising in cashless payment and payment for services including mobile gaming.
The newly-formed entity NRT Sightline will have an equity value of more than US$300 million, said a press release.
Upon closure of the deal, Sightline’s chief executive and founder, Kirk Sanford, assumes the role of president and CEO of the newly-formed company.
NRT’s founder and current president and CEO, John Dominelli, will become chairman of NRT Sightline and “will remain active in leading the overall company strategy,” according to the press release.
“Kirk Sanford and his team add complementary talent and technology that we believe will help accelerate NRT’s global leadership in casino payments,” said a prepared statement from Mr Dominelli contained in the release.
Sightline’s payment system Play+ gives casino patrons the option – in those markets where such methods are authorised – to pay for gaming by using their mobile devices or paying directly at gaming devices and points of sale using only their casino loyalty card.
“Sightline’s growth has skyrocketed over the past several years and the alignment with NRT will continue to push the boundaries of innovation while expanding its [the new entity’s] customer base with increased speed and support from the extensive resources of the NRT infrastructure,” said Sightline’s Mr Sanford.
According to the release announcing the merger, NRT already has a strong presence in gaming, with payment volumes of more than US$15 billion a year.
The newly-formed NRT Sightline will account for more than 1 billion “physical and digital commerce experiences” at more than 600 casino properties worldwide,” said the release.
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