LAS VEGAS, July 2, 2020 (Newswire.com) - Passport Technology ("Passport"), the leading provider of casino cash access services internationally, announced today the signing of 16 additional Gateway Casinos & Entertainment Limited ("Gateway") locations in British Columbia and Alberta, in addition to 12 Gateway locations already supported by Passport in Ontario.
This multi-year exclusive agreement represents a significant milestone for Passport in expanding services to British Columbia with the introduction of CashValet®, CashlessValet™and ActiveDataRT®. Passport Technology's self-service platform provides convenience to patrons, operational efficiencies, and social responsibility tools to the casino, as well as social distancing optionality within COVID-19 safety guidelines.
"We're excited to expand our long-term relationship with Gateway across three Canadian provinces. Passport's solutions are secure, robust, promote industry-leading regulatory compliance and deliver maximum funds to the casino floor," states Kurt Sullivan, President of Passport Technology. "We look forward to contributing towards the overall success of Gateway as they plan to re-open post-COVID-19 closures, providing guests in the region with the best possible experience. Passport has accelerated growth in 2020, and based on executed long-term agreements in Canada, UK and Europe, we expect to achieve $12M USD in revenue in 2021, with $4M USD in operating income, understanding COVID-19 does represent some uncertainty to the global casino industry."
On June 25, Passport announced an agreement to be acquired by Australis Capital Inc., leveraging Passport's international footprint in brick-and-mortar casinos with Australis' Cocoon Technology serving cannabis dispensaries in North America and Australis' Paytron Merchant Services. The full announcement is available at: https://ausa-corp.com/news/australis-capital-announces-expansion-of-fintech-platform-to-include-gaming-through-proposed-acquisition-of-passport-technology-and-private-placement-of-units.
Passport Technology's CashValet PCI-DSS Level 1, P2PE-certified solution and cloud-based application not only facilitates approval authorization and quick cash access, it provides operators real-time management of the transaction cycle tailored to the casino requirements, patrons and VIP guests, with an enhanced experience dedicated to providing quick and easy transactions, and both with the leading internationally recognized customer support. Being custom-built with the latest peripherals to meet the demands of the high-traffic casino environment, while deploying a best-in-class user interface and several kiosk and terminal form factors, allows for additional and improved points of interaction.
About Gateway Casinos & Entertainment Limited
Gateway Casinos & Entertainment Limited is one of the largest and most diversified gaming and entertainment companies in Canada with 25 gaming properties in British Columbia and Ontario and two additional properties in Edmonton, Alberta. Across its entire portfolio, Gateway currently employs over 8,200 people and features approximately 423 table games (including 48 poker tables), 14,076 slots, 82 food and beverage outlets and 561 hotel rooms. A multi-pronged growth strategy has seen Gateway Casinos & Entertainment Limited diversify and expand its product offering, including developing proprietary casino and restaurant brands, dramatically improving the gaming customer experience while attracting new customers. Some of Gateway's proprietary brands include Match Eatery & Public House, Atlas Steak + Fish and the new Halley's Club. In 2017, Gateway Casinos & Entertainment Limited celebrated 25 years in the business of gaming and entertainment in Canada.
About Passport Technology, Inc.
Passport Technology, Inc. is a leading developer of technology-based products and services for the highly regulated payments, gaming, and financial services markets. The company's portfolio includes attended payment kiosks, cash access systems, server and web-based analytic technology, agnostic application management systems, and interactive content and services in over 50 casino properties internationally.
Passport partners with casino operators to increase gaming revenue by delivering funds to the casino floor through cash and cashless payment portals including CashValet®, CashlessValet™, POSpod®, and ACMowl®. Passport's proactive approach with customers and regulatory authorities in solution development has proven successful and a cornerstone of the business highlighted by responsible gambling features including self-exclusion, VIP alerts, dynamic pricing, free-play, and the industry's most robust real-time back-end reporting tools. Since inception, Passport has responsibly delivered over $2 billion in funds in over 50 casinos internationally.
Passport Technology is recognized as the winner of the Global Regulatory Awards 2018 and 2019 Compliance Payment Service or Solution Provider of the Year.
For more information, please visit PassportTechnology.com
Chief Marketing Officer
Passport Technology Inc.
Source: Passport Technology Inc.