|By Business Wire||
|February 21, 2014 05:21 PM EST||
Sightline Payments® and its wholly-owned subsidiary Sightline Interactive (together, “Sightline”) announced that the Nevada Gaming Commission today unanimously approved the petition submitted by Sightline to allow prepaid cards and the related bank accounts to fund wagering at slot machines and casino games in Nevada casinos. Specifically, the Commission adopted amendments to Nevada gaming regulations 1 and 14 to define Prepaid Access Instruments and to allow such instruments to be used with approved cashless wagering systems to fund games and gaming devices in licensed Nevada casinos.
"This is a historic development for gaming, not just in Nevada but potentially nationwide," said Kirk Sanford, CEO and Founder of Sightline Payments. “The gaming industry has long lagged behind the broader economy in its utilization of electronic payments. The action by the Commission clears the way to bring the benefits of electronic payments to both gaming operators and gaming patrons. We’re grateful that Nevada has taken the first step, and we plan to pursue similar regulatory initiatives in other jurisdictions.”
The regulatory amendments represent a significant but deliberate step forward in bringing electronic payments to gaming in Nevada, and come after more than two years of discussions by Sightline with regulators, responsible gaming advocates, gaming operators and gaming equipment suppliers. Showing appropriate sensitivity to responsible gaming concerns, Nevada law bans the use of credit cards at games and gaming devices in Nevada. The use of debit cards has been a theoretical possibility for several years now, but regulators had previously been unwilling to authorize the use of traditional debit cards. Prepaid Access Instruments, as defined in the regulations and as further limited by technical standards to be adopted in the near future, have satisfied the regulatory concerns that had previously prevented the implementation of cashless wagering.
In testimony before the Nevada Gaming Commission, Harry Hagerty, President of Sightline Payments, stated, "The consensus view is that Prepaid Access Instruments represent the best possible way of realizing the electronic wagering account transfers that have been contemplated by - but not specifically enabled by – the Nevada regulations for nearly 14 years now.”
Sightline’s award-winning Loyalty Card Plus® prepaid solution has already been put into use by three online gaming operators in New Jersey (Borgata, PartyPoker and Golden Nugget). Sightline expects to launch its prepaid solution for other online and race & sports customers in the near future. Today’s regulatory action clears the way for Sightline to work with Nevada casino operators to bring prepaid to the core of their business: slot machines and table games.
Sightline Payments LLC is a leading provider of payments solutions to the gaming industries. Its solutions range from traditional cash access services for physical gaming locations to cloud-based solutions for online and mobile gaming. Sightline Interactive, a wholly-owned subsidiary of Sightline Payments, offers the award-winning Loyalty Card Plus® prepaid card program, a revolutionary payments platform that offers a single, integrated solution for all the gaming and non-gaming needs of gaming companies and their players. Sightline is headquartered in Las Vegas. “Sightline Payments” and “Loyalty Card Plus” are registered trademarks of Sightline Payments and Sightline Interactive.