Sightline Plans $300M Investment to Install Cashless Gaming Tech in 250K Slots
Posted on: October 7, 2022, 04:13h.
Last updated on: October 7, 2022, 12:47h.
Sightline Payments on Thursday announced it will invest up to $300 million to help operators upgrade their technology in 250K slot machines over the next three years. The move is seeking to spur an expansion of cashless gaming across the country,
Dubbed Project 250, the Las Vegas-based digital payments company is partnering with casino technology firm Acres Manufacturing Company on the endeavor. If successful, Project 250 would lead to casino patrons being able to play cashless on a third of the slot machines in the US.
In a release announcing the initiative, Sightline noted that only 10 states with casino gaming have launched cashless gaming. The company acknowledged that cost is a major reason why implementation has been sluggish, which is why they’re willing to contribute.
It’s the hardware and associated capital expenditures that’s often the impediment to the large-scale deployment of cashless payments for gaming operators,” Omer Sattar, Sightline co-CEO, said in a statement. “This investment by Sightline through the creation of Project 250 will immensely impact the gaming landscape for decades to come. Ubiquity of availability is often critical in broad scale consumer adoption, especially in payments and this investment will drive the whole industry towards the apex of the adoption inflection curve.”
Company leaders said retailers also were hesitant to invest in similar technology at the checkout stands. However, once they did, customers quickly embraced it.
The company plans to have more information about Project 250 at the Global Gaming Expo next week in Las Vegas.
Partnering with Acres
Acres is a Las Vegas company founded by John Acres that provides technological solutions to casinos. John Acres was also the founder of Electronic Data Technologies, which pioneered technology allowing casinos to use customer loyalty cards to track their slot machine play.
His current company offers Foundation, a casino management system that provides casino managers with real-time data on slot machines. Foundation also allows casinos to deploy bonuses to players through their mobile devices.
“We pride ourselves on our ability to provide operators with a scalable option to offer easy-to-implement cashless gaming,” Acres Manufacturing’s Noah Acres said.?“Cashless gaming is a great way for casino operators of all sizes to optimize customer relationships and drive enhanced profitability.”
About Sightline Payments
Adopting cashless technology has become a top priority for the gaming industry in recent years, and Sightline is one of several companies that’s working with casinos to make that happen.
The company developed the Play+ cashless wagering system that can be used for mobile and in-person gaming. More than 1.5 million users have set up accounts, and Sightline has more than 80 clients in sports betting, lottery, casino, and other gaming sectors that utilize the technology.
Sightline has also pushed for gaming regulators to help change rules to encourage greater use of cashless gaming technology. In January, the Nevada Gaming Commission approved a rule allowing a player setting up a cashless gaming account to upload a driver’s license or similar document and answer questions to prove their identity. Previously, they needed to show identification to an employee at the casino to complete the registration process.
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