KUALA LUMPUR (April 2): Genting group is among a few strategic investors involved in the recent round of funding for financial technology company, Sightline Payments.

Sightline Payments, on its website, announced today US$100 million in strategic growth investment.

It said the recent round of funding was led by Cannae Holdings and William P. Foley II, who was recently appointed chairman of Paysafe, and includes strategic investors Walter Kortschak, Point Break Capital, Searchlight Capital Partners, Shift4 Ventures, and Vectr Ventures, besides Genting.

Headquartered in Las Vegas, Sightline Payments is involved in the design and development of enterprise platforms for the casino industry.

According to its website, it is enabling the next generation of cashless, mobile, and omni-channel payment solutions for the gaming, lottery, sports betting, entertainment, and hospitality ecosystems.

“These investments will further enable our efforts to empower the digital transformation of the consumer experience and to transform consumers’ funding options within the gaming industry,” said Joe Pappano, chief executive officer of Sightline Payments.

It said consumer interest in sports betting and online casino has grown rapidly over the past 12 months, in part due to the expansion of legalised mobile gaming opportunities in many states across the United States.

Payments companies like Sightline Payments has helped sports betting grow by nearly 70% and iGaming by nearly 200% in 2020, it said. The combined online sports betting and online casino market is projected to grow from US$3 billion in 2020 to US$22 billion by 2026, it added.