Alternative asset manager Blackstone on Thursday announced that $250 million in funds managed by the company has been invested in Advanced Digital Gaming Technology, a new payments and data intelligence technology platform launched from the United Arab Emirates to support regulated digital markets globally.
ADGT has been established through a strategic partnership between Blackstone, Abu Dhabi investment company Raya Holding, and leading technology partners NRT Technology and Sightline Payments.
“ADGT was created in the UAE from the ground up to serve as a new global standard for financial payments technology,” ADGT CEO Michael Dominelli said in a statement. “Built upon modern infrastructure, and with a strong institutional and regulatory framework, we have created a platform that is designed, built, governed and experienced with resilience and scalability in mind. With the backing of Blackstone, Raya Holding and the leading payments technology partnerships, we have the scale, resources and credibility to create a global success story engineered and headquartered in the UAE.”
Headquartered in Abu Dhabi, ADGT is at the crossroads of global finance, high growth markets, and next-generation digital infrastructure. The company plans to initially focus on deployments across the UAE, the Middle East, Africa, and select international corridors.
In the UAE, ADGT is the premier payments and compliance technology provider to the commercial gaming market, which is projected to become one of the fastest-growing regulated markets globally. ADGT is the only licensed platform able to contract directly with land-based venues and online digital platforms, enabling a unified experience for consumers and operators.
“We see significant opportunity to deploy capital at scale in the UAE to build companies that can grow both domestically and internationally, despite near-term headwinds,” said Blackstone Chief Operating Officer Jon Gray. “The UAE is a global leader in travel and leisure, with emerging strength in technology, and we are excited to support ADGT to capitalize on these powerful trends.”
According to a news release, the platform is designed to “support national-scale deployments, cross-border interoperability, and evolving regulatory frameworks.” ADGT integrates digital wallets, real-time funding and payout rails, identity and access management, compliance monitoring, and closed-loop and open-loop ecosystem controls within a single interoperable infrastructure supporting on-property transactions and digital engagement.
“ADGT reflects the UAE’s long-term vision to lead in the development of next-generation financial technology and regulated digital infrastructure,” said H.H. Sheikh Mohammed Bin Sultan Bin Khalifa Bin Zayed Al Nahyan. “With a progressive regulatory framework and strong institutional support, the UAE continues to create an environment where global technology platforms can be built and scaled. Through this partnership with Blackstone, and the integration of proven technology capabilities from NRT Technology and Sightline, ADGT is positioned to establish a new benchmark for regulated payments infrastructure. From Abu Dhabi, we are developing a platform designed not only to serve the UAE, but to support the evolution of regulated digital markets globally.”
Blackstone’s presence in the UAE dates to 2010. The firm’s investments in the country include GLIDE, a pan-GCC logistics platform developed in partnership with Lunate, and Property Finder, the leading UAE real estate marketplace.
