Sightline Payments announced the completion of a $244 million funding round valuing the company at over $1 billion. With this capital raise, Sightline becomes Nevada’s first fintech unicorn—one of roughly 700 startups worldwide to ever earn a $1 billion-plus valuation as a private company.
In addition to Cannae Holdings, headed by William P. Foley II (l.), the owner of the NHL Vegas Golden Knights, this funding round included existing investors Genting Group, Point Break Capital Management, and founding investor Walter Kortschak.
Gaming is one of America’s last cash-centric businesses, with hundreds of billions of dollars running through casinos annually. Sightline Payments was founded over a decade ago by Omer Sattar, Tom Sears and Kirk Sanford to give consumers a way to safely and securely fund their online gaming experience, starting with New Jersey’s launch of online gaming in 2013.
Sightline has helped power the exponential growth of sports betting after the Supreme Court overturned the federal ban in 2018, and continues to lead the industry in innovation by launching cashless gaming in brick-and-mortar casinos.
“Sightline has continuously risen to meet the changing needs of the casino gaming industry,” said Sightline founder and co-CEO Sattar. “As we strive to help lead the digital transformation of the patron experience in our vertical, we are humbled to become Nevada’s first fintech unicorn.”
“After seeing Sightline’s groundbreaking technology firsthand at the recent launch of Resorts World Las Vegas, I am more bullish than ever about Sightline’s ability to be at the forefront of the digital transformation afoot in the North American gaming, sports and entertainment ecosystem,” said Foley. “I look forward to helping Sightline continue their tremendous growth.”
“The Sightline team has reached new heights to provide innovative solutions to drive our industry forward,” said Sightline co-CEO Joe Pappano. “Our investors’ continued faith in our business will enable us to execute our vision of transforming payments in the casino gaming and hospitality industry.”
This $244 million round is Sightline’s second round in 2021. Sightline closed a $100 million funding round in April, which also included an investment by Searchlight Capital Partners. Building upon Sightline’s growth in the gaming and hospitality sectors, Sightline recently acquired Joingo, the casino gaming industry’s top mobile engagement and loyalty platform.