Sightline® Revolutionizes Gaming Industry's Working Capital with Deposit+™, a Groundbreaking New Tool that Empowers Casinos to Access All Idle Cash Across the Entire Slot Floor
Deposit+ frees up an estimated $5 billion in capital in U.S. casinos
LAS VEGAS, Oct. 5, 2023 /PRNewswire/ -- Leading fintech company Sightline® is revolutionizing the way casinos view their entire slot floor with the company's new product, Deposit+™. With Deposit+ by Sightline, casinos have daily access to cash that is sitting idle in slot machines and TITO kiosks, empowering operators to use that cash as working capital.
"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," said Omer Sattar, CEO of Sightline.
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 re-investment, 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, allowing operators to optimize their drop schedules, reducing labor expenses.
Deposit+ is not a lending product; it simply gives operators daily access to cash that is otherwise sitting idly 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.
"For decades, casino operators of all sizes have been stymied in their search for a way to make use of cash that is stuck in slot machines prior to a drop. Until today, that cash and its potential has remained untapped. Now, we are thrilled to introduce Deposit+ and add another powerful tool to operators' revenue capabilities," said Tom Pierro, SVP, Product Management.
Deposit+ by Sightline gives casinos fast access to all cash across the slot floor, enabling them to earn daily provisional credit. The solution works with the casinos' existing CMS, and the daily currency report triggers an advanced deposit through Sightline's system.
"At Sightline, our banking and development experts are continually innovating for our casino partners, helping them maximize their opportunities. Now 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," said Kirk Olson, SVP, Sales.
Contact your Sightline representative today and visit Sightline in booth #4439 at G2E for more information and a demonstration on how Deposit+ can maximize your opportunities.
About Sightline
Sightline is transforming the gaming industry with its innovative suite of award-winning cashless, mobile, and loyalty solutions. Through its expertise in consumer behavior, payments technology, and software development, Sightline is uniquely positioned to help casino resorts and online gaming companies offer a more robust, customer-centric omnichannel experience. Sightline's flagship product Sightline Pay enables players to use a single digital payment method across all gaming channels and throughout the entire resort. It's currently the preferred payments and cashless solution for more than 80 partners in 40+ states across the sports betting, lottery, horse racing, and online and brick-and-mortar casino markets. Sightline's mobile loyalty platform Sightline Mobile gives casino resorts the ability to offer their patrons a fully customizable app capable of providing access to all hospitality and gaming services that lets them track and apply loyalty across the entire property. Sightline Mobile apps have had over 5 million downloads, more than 1 million in 2023 alone.
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SOURCE Sightline
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