Sightline Payments Thursday introduced Deposit+, a product that enables casinos to access cash not being used in slot machines and TITO kiosks. The company says Deposit+ has no software or hardware requirements, allowing 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,” said Sightline Payments CEO Omer Sattar in a statement. “Deposit+ gives operators access to that cash, freeing up stuck capital, maximizing cash flow, and putting the entire industry in a powerful reinvestment position.”
Cash from slot machines or TITO kiosks can be banked and used for re-investment each day through Deposit+. Sightline states there is no CapEx to start using the product.
Casinos also won’t be tied to drop schedules. Because the cash is credited to bank accounts, operators can optimize drop schedules, reducing labor expenses.
“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,” said Sightline SVP, Product Management Tom Pierro. “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.”
Through Deposit+, operators can earn daily provisional credit across slot devices, reduce outstanding debt, and make additional investment without accruing additional debt. The solution works with 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,” said Sightline SVP, Sales, Kirk Olson. “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.”
Sightline Payments will feature Deposit+ at Booth 4439 at the Global Gaming Expo, Oct. 9-12, in Las Vegas.
