An investment of up to $300 million to implement cashless gaming in a quarter million slot machines?
That’s the bet the digital payments provider and mobile app developer is making. Thursday Sightline Payments announced Project 250, a collaboration with Acres Manufacturing. The objective of the collaboration is to facilitate the installment of digital payment technology at 250,000 slot machines in the U.S. over 36 months.
Project 250 will allow gaming operators to upgrade existing slot machines via Acres’ Foundation technology, offering cashless to their patrons in as little as 16 weeks.
“It’s the hardware and associated capital expenditures that’s often the impediment to the large-scale deployment of cashless payments for gaming operators,” said Omer Sattar, Sightline Co-CEO. “This investment by Sightline through the creation of Project 250 will immensely impact the gaming landscape for decades to come. Ubiquity of availability is often critical in broad scale consumer adoption, especially in payments and this investment will drive the whole industry towards the apex of the adoption inflection curve.”
Sightline’s Mobile+ ecosystem provides integrations with an operator’s entire casino resort and loyalty program, while Sightline’s Play+ digital payments solution rounds out the cashless experience. These systems are live with all four major casino management systems in the US.
But only 10 of the 44 states that offer gaming have launched cashless for casino customers. A significant hurdle toward adoption is outdated technology that’s costly to upgrade.
By investing in infrastructure upgrades for its casino partners, Sightline will accelerate the shift toward cashless gaming, giving millions of gaming patrons the ability to use safe and secure digital payments in casinos nationwide.
“We pride ourselves on our ability to provide operators with a scalable option to offer easy-to-implement cashless gaming,” said Noah Acres of Acres Manufacturing Company. “Cashless gaming is a great way for casino operators of all sizes to optimize customer relationships and drive enhanced profitability.”