Parthenon Capital has completed the acquisition of Global Payments’ gaming division which saw the unit rebrand to a standalone company named Pavilion Payments.
Originally announced in February, the deal sees Pavilion Payments operate from its new Las Vegas headquarters as it aims to be the leading omnichannel payments provider exclusively serving the gaming industry.
Pavilion Payments will offer Global Payments Gaming Solutions’ full payment solutions offering to the gaming industry, including VIP Preferred and VIP Mobility, and will maintain a close relationship with Global Payments via a partnership.
Those who use VIP Preferred are able to transfer funds from one operator to another and use Pavilion’s other payment solutions including VIP Financial Centers, Cash Advance, Delayed Settlement, and VIP Mobility.
The rebrand of the company has been reflected by its mission to “provide operators and patrons with a single, integrated gaming solution under one roof”.
Parthenon Capital, the new owner of Pavilion Payment, is a private equity firm that has over 15 years of experience in the payments industry through strategic partnerships with companies such as BlueSnap, BillingTree, Cayan and Payroc.
Following the acquisition, Pavilion will offer payments through its kiosk, cashless, and igaming technology solutions.
“The growth we are seeing in the gaming industry is exhilarating,” said Pavilion’s CEO Christopher Justice. “We are well positioned to take advantage of the changes rapidly occurring in our industry.
“As an independent company, we will continue to advance our innovative product development roadmap and provide outstanding service to our clients.”
Justice concluded: “We are proud of several recent product introductions including our online bank credentialing solution, which will make enrollment quicker and simpler for patrons, and continue to remove friction from the gaming experience.”