{"id":18924,"date":"2021-06-11T17:06:48","date_gmt":"2021-06-11T17:06:48","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18924"},"modified":"2026-04-23T18:38:15","modified_gmt":"2026-04-23T21:38:15","slug":"genting-malaysia-invests-in-digital-technology-company","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-invests-in-digital-technology-company","title":{"rendered":"Genting Malaysia invests in digital technology company"},"content":{"rendered":"\n

Genting Malaysia was behind a round of funding for financial technology company Sightline Payments, which has recently acquired casino mobile application developer Joingo LLC.<\/p>\n\n\n\n\n\n\n\n

Malaysia.-\u00a0Genting Malaysia<\/strong>\u00a0is involved in a group of investors that raised\u00a0US$100m for Sightline Payments LLC<\/strong>, a company involved in developing\u00a0digital payment technology<\/strong>\u00a0for sports betting and casino markets.<\/p>\n\n\n\n

Sightline Payments has recently\u00a0acquired Joingo LLC<\/strong>\u00a0a company that has a patented\u00a0mobile loyalty platform<\/strong>\u00a0that enables casino brands to reach their customers with interactive and personalised mobile marketing campaigns.<\/p>\n\n\n\n

According to a press release from Sightline Payments, the acquisition will enable the company to “offer casino customers a turn-key cashless gaming solution<\/strong>.”<\/p>\n\n\n\n

Genting Malaysia<\/a> has recently shared financial results for the first quarter of 2021, showing revenue declined 68 per cent year-on-year, from MYR1.96bn to MYR623.3m (US$150.5m).<\/strong><\/p>\n\n\n\n

Revenue was also 40 per cent down<\/strong> when compared to the previous quarter.<\/p>\n\n\n\n

Genting Malaysia registered losses attributable to shareholders of MYR483.6m (US$116.7m)<\/strong>, while last year it reported a loss of MYR418m.<\/p>\n\n\n\n

The company suffered a huge drop in revenue from its leisure and hospitality business in Malaysia \u2013 down 76 per cent to MYR299m (US$72m) <\/strong>\u2013 while in the UK and Egypt, revenue declined by 89 per cent to MYR40.2m (US$10m).<\/p>\n\n\n\n

The company is also planning to launch its new US$4.3bn casino resort<\/strong> in the US on June 24.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Malaysia was behind a round of funding for financial technology company Sightline Payments, which has recently acquired casino mobile application developer Joingo LLC.<\/p>\n","protected":false},"author":176,"featured_media":18925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia participated in a US$100m funding round for Sightline Payments, a FinTech company specializing in digital payments for sports betting and casino markets. Sightline Payments recently acquired Joingo LLC, a mobile application developer, to offer a comprehensive cashless gaming solution. This strategic investment by Genting Malaysia occurs amidst its Q1 2021 financial downturn and plans for a major US casino resort launch.","focusai_entities":"Genting Malaysia, Sightline Payments LLC, Joingo LLC","focusai_location":"Malaysia, UK, Egypt, US","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.8), operator_casino (0.95), affiliate_publisher (0.7), product_ux (0.9), tech_data (0.9), marketing_crm (0.9), payments_fraud_aml (0.95), investor_analyst (0.95), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Cashless Gaming Impact","query":"What are the projected GGR and NGR impacts for operators adopting Sightline Payments' turn-key cashless gaming solution, considering regulatory compliance and player adoption rates?"},{"label":"Genting's Investment Rationale","query":"How does Genting Malaysia's strategic investment in Sightline Payments align with its broader capital allocation strategy, particularly given its recent financial performance and significant US market expansion?"}],"footnotes":""},"categories":[157,16333],"tags":[19394,233],"class_list":["post-18924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-malaysia","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18924"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18924\/revisions"}],"predecessor-version":[{"id":18947,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18924\/revisions\/18947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18925"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}