Sightline launches Deposit+ to access slots, TITO money

Oct 06, 2023 Newsdesk Latest News, Trends & Tech  

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Sightline Payments LLC, a fintech firm specialising in payments for the regulated gaming industry, has launched “Deposit+”, a product the firm says enables casinos to access cash not being used in slot machines and ticket-in-ticket-out (TITO) kiosks.

In a Thursday press release, the firm noted that Deposit+ “has no software or hardware requirements,” allowing casino operators to “use that cash as working capital”.

Through the new product, operators can “earn daily provisional credit across slot devices, reduce outstanding debt, and make additional investment without accruing additional debt”.

The statement quoted Omer Sattar, Sightline’s chief executive, as saying: “There is an estimated US$3 billion in slot cash and another US$2 billion in TITO that is waiting to be reinvested in the U.S. casino industry.”

He added: “Deposit+ gives operators access to that cash, freeing up stuck capital, maximising cash flow, and putting the entire industry in a powerful reinvestment position.”

The release said Deposit+ works with the existing casino management system of each gaming venue, and the daily currency report triggers an advanced deposit through Sightline’s system.The cash is credited to a registered bank account, “allowing operators to optimise their dropschedules, reducing labor expenses”.

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