Sightline has created a cutting-edge and revolutionary way for casinos to access working capital. At G2E 2023, the leading fintech company introduced Deposit+, which gives casinos daily access to cash that is sitting idle in slot machines and TITO kiosks, empowering operators to use that cash as working capital.
Deposit+ is not a lending product; it simply gives operators daily access to cash that is otherwise sitting uncollected in machines. When operators use Deposit+, they can earn daily provisional credit across slot devices, reduce outstanding debt, and make additional investment without accruing additional debt.
The importance and potential impact become clear given the greater context that there is an estimated $3 billion in slot cash and another $2 billion in TITO that is waiting to be reinvested in the U.S. casino industry. Deposit+ gives operators access to that cash, freeing up stuck capital, maximizing cash flow, and putting the entire industry in a powerful reinvestment position.
Before Deposit+, that cash and its potential has remained untapped. With Deposit+, casinos have a powerful new tool for revenue capabilities.
Deposit+ by Sightline works with the casinos’ existing CMS, and the daily currency report triggers an advanced deposit through Sightline’s system.
Streamlining the process, Deposit+ has no hardware or software requirements, and with Deposit+, whatever cash is in the casino’s slot machines or TITO kiosks can now be in the bank and ready for reinvestment, daily. This means no capex to start utilizing this product.
Additionally, the casino no longer is tied to drop schedules. Because the cash is credited to the bank account, operators can optimize their drop schedules, reducing labor expenses.
With Deposit+, operators finally have the solution they have been waiting for, giving them access to their cash, freeing them to pay down debt more rapidly and to make investments without accruing additional debt.
For more information, visit sightlinepayments.com.