U.S.-based gaming fintech company Sightline Payments LLC has announced the completion of a recapitalisation exercise. It did not provide detail on the amounts involved.
“Most major Sightline investors recommitted to the business through the recapitalisation process,” including Cannae Holdings Inc, NRT Technology Corp, Genting group, founding investor Walter Kortschak, co-founders Harry Hagerty and Diran Kludjian, and Point Break Capital Management LLC, said Sightline in a press release issued on Tuesday.
It added that the “reconstituted Sightline board of directors” will include NRT founder and CEO John Dominelli as the firm’s first executive chairman. NRT president Michael Dominelli will also join the board of directors.
Sightline says it currently supports “more than 70 partners across the casino, digital, horse racing and lottery industries” in 44 U.S. states.
The release quoted Sightline co-founder and CEO Omer Sattar (pictured) as saying: “As the gaming industry continues to change, we at Sightline want to focus on what we do best – payments innovation.”
He added, in reference to the capitalisation exercise: “This enables us to continue to deliver on our 15-year legacy, and I can’t wait to bring some of the innovations we see across the fintech marketplace to gaming.”
Mr Sattar also said that the appointments of Mr John Dominelli and Mr Michael Dominelli signified “a pivotal step in strengthening the delivery of product at Sightline.”
“As leaders at NRT Technology, John and Michael bring a wealth of industry expertise and leadership that will drive innovation and growth. Their roles on the board reinforce our commitment to collaborative success and reflects the confidence both companies and our shareholders have in this partnership,” he added.
