Scientific Games Increases Cashless Gaming Solutions

Scientific Games Increases Cashless Gaming Solutions

The company that is registered on the NASDAQ under the symbol SGMS is increasing the number of cashless gaming solutions. It has announced its acquisition of PlayOn, a cashless table product from ACS. The financial terms of the deal were not made public. The PlayOn series allows users to use debit cards in order to get cash at live game tables. After its addition to the suite of games of Scientific Games, the product line featuring the series will be known as AToM i.e. Access To On Demand Money.

Advantages of the acquisition

A statement as regards the advantages of the acquisition was released by Scientific Games. The ATtoM solution allows users to access funds at live games tables without having to leave their place at the game tables. Further, there are no out-of-network or back-end transaction fees that would be charged by the financial institution of the players. In order to access funds, players follow a simple procedure of swiping their debit card and providing their PIN.  The coronavirus pandemic has hastened the move to cashless gaming and financial markets are reacting positively to the companies that provide these services.

Growing footprint in the Fintech world

The company has recently sold its OpenBet sports wagering business to Endeavor Group Holdings Inc that is listed on the NYSE under the symbol of EDR. Now, the view amongst investors is that the company is in essence, a slot machine manufacturer. Even as this is largely true, the sale of OpenBet, as well as the still ongoing divestment of the SG Lottery business, has made the company more focused on digital gaming and technology.

The synergy of the acquisition

The deal with ACS for PlayOn is in sync with the efforts of the company to add to its technology offerings. The larger investment community may reward the company for its efforts to boost its technology offerings and capture a larger market share in a fast-growing market. Investors are enthusiastic regarding the acquisition because more brick and mortar casinos are accepting cashless payments after the onset of the global pandemic.

sherlock

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.