LAS VEGAS, Dec. 16, 2022 /PRNewswire/ — GBank Monetary Holdings Inc. (the “Firm”) (OTCQX: GBFH), the father or mother firm for GBank (previously generally known as “Financial institution of George“) (the “Financial institution”), is happy to share the press launch by Sightline Funds, a FinTech firm specializing in digital fee options for the sports activities betting and on line casino markets, saying the launch of twond technology cashless know-how ushering in an expertise with unprecedented performance, drastically enhancing the omnichannel shopper journey. The replace contains distant identification verification and enrollment for loyalty and funds, biometric authentication, and a single “digital pockets” person expertise.
The total press launch from Sightline Funds may be discovered right here:
Sightline Funds Pronounces Resorts World LV Turns into 1st Resort to Launch Subsequent Technology of Cashless
By way of its contract with BankCard Companies, LLC, GBank has been offering the banking options for Sightline Funds since 2016.
About Sightline Funds
Sightline Funds is the U.S. sports activities betting and on line casino gaming market’s main digital funds supplier and cellular app developer. Sightline leverages cutting-edge know-how to use trendy options to a historically cash-based trade projected to develop to greater than $150 billion within the subsequent few years. Sightline’s suite of cellular options offers shoppers a protected, safe, and accountable option to fund their on-line and in-person gaming actions and permits casinos to supply cashless wagering and personalised loyalty choices throughout the complete property. With greater than 1.5 million Play+ accounts, 3 million cellular loyalty platform downloads, and 80+ companions throughout the sports activities betting, lottery, racing, and on-line and brick-and-mortar on line casino markets, Sightline is uniquely positioned to rework the standard gaming panorama.
About BankCard Companies, LLC
BankCard Companies, LLC entered into an settlement with Sightline Funds in 2014 to supply GBank as a sponsor financial institution to allow Sightline’s Play+ cashless options for the gaming trade. At this time, the Sightline/BankCard Companies, LLC/GBank partnership companies practically 400,000 accounts at GBank with over $2 billion in transactions because the Play+ sports activities betting launch in Nevada.
BankCard Companies, LLC developed its proprietary “Pooled Participant Account Powered by PIMSTM,” which expanded the Pooled Participant Account construction with FDIC Insured particular person participant ledger accounts that allow digital cashless transactions.
The Firm
GBank Monetary Holdings Inc. (the “Firm”) (GBFH), a financial institution holding firm with roughly $667 million in belongings at September 30, 2022, conducts enterprise by way of its wholly owned subsidiary, GBank (previously generally known as “Financial institution of George“) (the “Financial institution”). Based in 2007, the Financial institution operates two full-service business branches in Las Vegas, Nevada, with main lending actions targeted on participating shoppers in Nevada, California, Utah, and Arizona. Financial institution of George has key companies in three outstanding divisions: SBA Lending, Gaming FinTech, and Business Lending. The Financial institution conducts enterprise nationally by way of its SBA lending actions (ranked 14th within the nation by the U.S. Small Enterprise Administration for SBA 7(a) greenback mortgage quantity by way of September 30, 2022) and its BankCard Companies, LLC (“BCS”) partnership. Launched in 2016, its Gaming FinTech Division, by way of its contract with BCS, is empowering Sightline Funds Play+ Answer (Sightline Funds) for seamless and safe pay-and-play that’s enabling cashless, cellular commerce options for gaming, lottery, and sports activities betting ecosystems – positioning the Financial institution as a monetary chief on this new funds world. The Financial institution additionally supplies basic business banking companies with an emphasis on serving the wants of small- and medium-sized companies, excessive web value people, professionals, and traders. The Financial institution provides a full complement of shopper deposit merchandise and is targeted on delivering a premium degree of service. Financial institution of George has been acknowledged yearly for every of the previous six years by S&P Capital IQ in its High 100 Greatest-Performing Group Banks. For extra details about GBank, please go to its web site at www.g.financial institution. The Firm’s Widespread Inventory is quoted on the US OTCQX Market beneath the image GBFH.
Ahead-looking Statements
GBank has made forward-looking statements on this Press Launch. These forward-looking statements are topic to dangers and uncertainties. Ahead-looking statements embrace data regarding potential or assumed future outcomes of operations of the Firm and its subsidiaries. When phrases corresponding to “believes,” “expects,” “anticipates,” or comparable expressions happen on this Press Launch, the Firm is making forward-looking statements. Word that many elements may have an effect on the longer term monetary outcomes of the Firm and its subsidiaries, each individually and collectively, and will trigger these outcomes to vary materially from these expressed within the forward-looking statements contained on this Press Launch. These elements embrace, however should not restricted to: the current and persevering with coronavirus (COVID-19) pandemic which poses dangers and should hurt the Firm’s enterprise and outcomes of operations in future quarters, credit score danger, adjustments in market rates of interest, incapability to attain merger-related synergies, competitors, financial downturn or recession, and authorities regulation and supervision. The Firm undertakes no obligation to replace or revise any forward-looking statements.
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SOURCE GBank Monetary Holdings Inc.
