GBank Financial Holdings Inc., the parent company for Bank of George (the “Bank”), is pleased to share the press release by Sightline Payments, a FinTech company specializing in digital payments solutions for the sports betting and casino markets, announcing its completion of a $244 million round valuing the company at over $1 billion. Per the press release, and with the capital raise, Sightline Payments becomes Nevada’s first fintech unicorn – one of roughly 700 startups worldwide to ever earn a $1 billion+ valuation as a private company.
The full press release from Sightline Payments can be found here:
Sightline Payments Announces $1 Billion Valuation
Through its contract with BankCard Services, LLC, Bank of George has been providing the banking solutions for Sightline Payments since 2016.
BankCard Services, LLC entered into an agreement with Sightline Payments in 2014 to provide Bank of George as a sponsor bank to enable Sightlines Play+ cashless solutions for the gaming industry. Today, the Sightline/BankCard Services, LLC/Bank of George partnership services over 700,000 accounts at Bank of George with over $1.1 billion in transactions since the Play+ sports betting launch in Nevada.
Bank of George, a subsidiary of GBank Financial Holdings Inc (GBFH), and BankCard Services, LLC also launched the Oregon State Lottery online sports wagering program with SB Tech, World Pay (FIS) and Sightline Payments in 2018 with the development of BankCard Services, LLC’s proprietary “Player Information Management System (PIMS)”. PIMS created the Pooled Player Account structure to enable digital cashless transactions.