Sightline Payments has secured a strategic investment from JP Morgan Payments as it aims to develop an integrated omnichannel solution for retail and online gaming companies.
The investment comes as Sightline seeks to further roll out its flagship Play+ product, which enables users safe access to gaming and entertainment products across regulated US markets.
It follows the announcement earlier this year that JP Morgan Payments would become the primary merchant acquirer for the Play+ ecosystem.
Sanjay Saraf, Head of eCommerce and Marketplaces at JP Morgan Payments, commented: “We believe that industry-specific contextual software is critical to powering any payments ecosystem to create a unique, engaging consumer experience and also to transform the revenue potential for merchants.
“This investment serves as one part of a multi-channel payments strategy JP Morgan Payments will be launching in the gaming and resort space in the coming months.
“Maintaining a safe gaming industry is a priority for us, and Sightline has created an impressive software platform highly tailored to the needs of the gaming and resort ecosystem.
“We are excited to work with Sightline to unlock the digitization potential in enabling highly contextualized payments for the gaming and resort industry.”
Sightline’s Play+ has launched at Boyd Gaming and Resorts World Las Vegas, enabling players to place funds in a secure account to give them funds anywhere at any time.
This marks Sightline’s first funding round of 2022 following two rounds last year, in which William Foley’s Cannae Holdings and Searchlight Capital Partners made investments.
Sightline Co-founder and Co-CEO Omer Sattar: “A gaming patron’s money should be safe, secure, and should follow that patron effortlessly through their digital and brick & mortar lifecycle.
“We are confident that a strategic relationship with JP Morgan Payments will allow us to deliver a unique mobile user experience for those gaming industry patrons and power the digital transformation for gaming operators.”